COI screens particularly well at A$0.88/GJ of 2P Reserve vs. theWGO look through (41% below Hancock bid of A$1.50/GJ), peer valuations (31%below average A$1.27/GJ), and 24% below the regional SXY transaction (A$1.16/GJ)which occurred in a c.50% lower gas price environment. COI appeals as the ‘nextM&A target’ given its (i) large, growing undeveloped 2P Reserve position(195PJ), (ii) short timeline to first production (2024), (iii) regionalinfrastructure (GLNG pipeline), and (iv) a motivated JV partner in STO.Maintain BUY, PT A$0.42/sh (A$0.80/sh at spot).
This was when price was 18c but it summaries perfectly why this is a screaming buy at these levels
I also think the desire to secure production ofr offshore contracts becomes even more attractive for STO
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 (20min delay)
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Last
14.0¢ |
Change
-0.010(6.67%) |
Mkt cap ! $167.5M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.0¢ | 14.0¢ | $150.0K | 1.044M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 38513 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.0¢ | 619606 | 3 |
View Market Depth
| Last trade - 16.10pm 26/06/2025 (20 minute delay) ? |
| COI (ASX) Chart |