qrtly

hi all

Big pluses for me are
1) Gurame may be back on the cards
2) Looks like domestic campaign will be robust with a couple of lower risk development wells and may even commnece earlier
3) Cash accumulation for quarter just under 3 cents per share

Ron I agree other oilers have been sold down however the NPV value placed on discovered reserves is not the only measure. (i know you no it isnt. I look at cost of prodcution per barrel , what type of oil is produced and therefore margin, tax regime, exploration potential and cash. With the oil price falling Cooper is insulated from a value perspective. Many other oilers are still to accumulate cash and therefore they have additional risk to their value if the oil price falls significantly.

For whover said coopper can not accum,ulate cash. lets not fiorget the acquition of siesmic, the big international drills and new permits. dont forget thios caused the price to go as high as 1.45 - and that presented an opprtunity fot those that wanted to get out.

Slow and steady wins the race