Hi fellaz,I copy this out from a broker Investments group...

Hi fellaz,

I copy this out from a broker Investments group research in October 09. And this is what they think of CXY:

"In September 2009, Cougar Energy successfully completed a share placement to raise $8.29m through institutional and sophisticated investors. The company also raised another $8.3m through a share purchase plan. The cash on hand as at October 2009 is estimated at $17m. This amount is considered to be quite modest compared to its aggressive working schedule. However, it is sufficient to cover the construction and the operating cost of the pilot plant in early 2010; drilling in the Wandoan and South Gippsland sites; and, all corporate costs until the end of calendar year 2010. Cougar Energy also has a corporate credit card facility to $130,000 and 30.6m options (valued approximately at $5m) maturing in between year 2010-2012.

Adding the company current cash on hand and outstanding debt with the Kingaroy project and the Wandoan resources, the model gives the company value at $128.47m or at $0.140 per share. We suggest a buy for the equity at the current market price at $0.095, representing a 47% upside potential.

Assets Value (A$m) Value(A$)/ share
Kingaroy Project 186 MW $37.11 $0.04
Option to expand Kingaroy to 400MW $58.57 $0.06
Wandoan Resources $15.79 $0.02
Cash and cash equivalents $17.00 $0.02
Debt $0.00 $0.00
Total $128.47 $0.140

If you are a believer in greener energy, CXY is the one for ya.