From last year Takeover Target? Credit Suisse points out there...

From last year

Takeover Target?
Credit Suisse points out there is increasing likelihood Cooper Energy could become a takeover target, if other industry participants are confident in the project's growth path and synergy potential. More information on costs and commercial synergies at the Orbost plant may also be available to operators such as SGH Energy ((SVW)) and Beach Energy ((BPT)) that have assets nearby.
The broker considers, at this stage, the market is appropriately factoring in the risks and prefers to remain on the sidelines until the issues are resolved and LNG prices recover.
Cooper Energy reported an underlying net loss of -$6.6m in FY20, larger than many expected. The result was primarily affected by costs and the company took $108m in impairments, mainly across the Otway and Gippsland assets.
Full year capital expenditure guidance was reiterated at $50-58m for FY21. The majority is associated with the Otway development and a final investment decision is targeted Otway and Manta-3 (Gippsland) in 2022. FNArena's database has two Buy ratings and two Hold for Cooper Energy, with a consensus target of $0.44, suggesting 38.3% upside to the last share price.

https://www.fnarena.com/index.php/2020/09/02/orbost-gas-plant-key-to-cooper-energy/