Having taken the lead at Mahalo – money was required to fulfil...

Having taken the lead at Mahalo – money was required to fulfil that obligation with the sights set on converting 3P to 2P reserves. The placement was oversubscribed with new II’s coming on board who have the means to provide future funding after the company hit’s it’s 2P reserve target.

There are numerous smaller players out there who are sitting on valuable in ground assets (Gas – oil – precious metals to name a few) who are desperately undervalued and trading at a huge discount to net asset worth – just because they have no realistic prospect in bringing those assets to market due to a lack of available funding with commercial lenders having little appetite for risk in these economically uncertain times.

COI is well placed to move forward with funding in a cash-starved sector that is stagnating – with the news announced today moving us to a position where headway will be made whilst peer group competition have battened down the hatches and reduced expenditure.

Gas/oil is required and will remain so long into the future – solar/green energy alternatives will play a part moving forward but will not dent the demand for traditional fuel sources within the life cycle of COI.

Get those gas 2P figures nailed with future funding availability sorted and COI is a company to watch. Eliminate the obstacles paving the way for future production or earlier T/O.