The better upside depends on your time frame.STU has 66m shares,...

The better upside depends on your time frame.

STU has 66m shares, and 88% of Arwon.

COE has 136m shares, and 12% of Arwon.

Thus, even though you can buy four COE shares for one STU share, STU has more exposure to Arwon.

On the other hand, Chrisites-3 is also being drilled, and Cooper has got exposure to some interesting looking country in offshore Morocco.

I'd be expecting Cooper to be involved in a series of deals over the next 12 months, as they toss money in $500k lumps towards interesting projects (I suspect they'll buy into at least one North Sea promote lease ... the North Sea was Mike Scott's training ground). They then decide which of these projects to back with their cash pile, which to farm down on, and which to write off..

They are both really good investments, and owning either of them is a good move.

STU is more likely to double your money in 12 months.

COE is more likely to become a billion-dollar company.

Ian Whitchurch