You are right there are not many COE look alike shares around....lol
What we have in COE is management with vision and who can pull off a good deal.
STU has in the meantime been busy proving up the Cooper basin alone and not looked outside, even when many shareholders urged them to do so.
Today we have COE with a great internation exploration portfolio and a good producing cooperbasin. Stuart in the meantime has done well with the cooperbasin but only now touched outside the cooper with the VIC 53 permit that seems to come at a price tag attached to it.
Paying the full price of an offshore well to gain 50% in that field only and paying another well to gain 50% in the whole field comes not cheap.
It is the price that STU had to pay to gain such a late access for an early drill in a prospective field.
The diesel refinary has been on the books for such a long time that it has become a bit of a joke.
Will this latest change of direction and the additional partner push this project forward or are they just waisting time and money on BFS's??
With the VIC53 this company can change for the better or worse , we do now have a large upside but much higher risk.
Tino should have taken a leaf out of Coopers book and followed them early out of the Cooperbasin.
The oil hedging has been a disaster in the past for COE and they had to forego a lot of revenue when COE was making heaps of profit.
By the looks of it STU has learned their lesson and at least that part has been adressed with only put and call options in place.
Shares outstanding are 62,653,050
jojo
STU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
