Looking more closely at COI I like what I see.I am a long term...

Looking more closely at COI I like what I see.

I am a long term shareholder from before the GFC bought in about 36c watched them crash & bunged them in the bottom drawer.

Then they did the cap raising at 10c and I was impressed that they were letting the small punter in on the cheapies rather than handing them off to the insto friends - I also heavily oversubscribed & was pleased that I had my full application accepted rather than them handing them off to big underwriters.

I also like the fact that rather than try and self-fund (debt or equity) the Mahalo project, the Stanwell farm-in is prudent in not trying to take on too much too soon and also avoids potential dilution of smaller holders through self-funding.

I don't know much of Tor McCaul but the small amount I have seen of him impresses me, he knows what he is doing but does not expect to become Woodside overnight.

Early days yet, but the drilling results to date are very encouraging, we just don't know how much good stuff is in the coals. Article in today's West Australian says Synergy/Verve current contract price for gas is going to double to $6/GJ, the market for gas is strong!

Another AUT would be nice - you never know - one thing for sure these beauties have sat in my bottom drawer for a long time, the share price will have to go a long way north before I think of taking them out.

Cheers
T