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COE, COOPER ENERGY LIMITED
nipper
post Posted: Sep 6 2019, 10:47 AM
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Cooper Energy has jumped 11 per cent in early trade, after announcing a new gas discovery at its Annie-1 well in the Otway Basin.

The explorer said it had identified a new gas field within the Waaree C formation reservoir, off the coast of Victoria, the first discovery by an offshore well in the area for 11 years.

Managing director David Maxwell described the Annie gas discovery as a solid and promising result from the first well in the program.

“Annie-1 is the first offshore gas exploration well Cooper Energy has drilled in Australia and the first of an $80 million drill campaign by the Joint Venture this year to find new gas supply for south-east Australia,” he said.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jan 21 2019, 06:42 AM
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Gas guru stays ahead  of the game
QUOTE
David Maxwell signed off from BG in early 2011 [after building the CSG business in Qld], seeking a new opportunity. He received a call from Cooper asking for ideas on strategy. Despite its historic connection with the prolific Cooper Basin, the company had spread itself across the globe with mixed success.

Maxwell suggested Cooper go back to its roots in South Australia and Victoria and look to grab exposure to an inevitable tightening of the east coast gas market. Cooper liked his pitch so much he was appointed managing director to reshape the company in October 2011.

“What I kept coming back to was, there was an opportunity that others were not moving on,” Maxwell said. “My advice turned into implementation and we exited the international assets, moved the company from Perth to Adelaide and started again.”

Several institutional shareholders backed the strategy switch from the start, which Maxwell admits required a leap of faith given its meagre gas resources at the time. It also needed Cooper’s tight-knit team of just 45 people to stick together and see the journey through. When the oil price crashed to just $US26 a barrel in early 2016, Cooper’s entire staff, including Maxwell, volunteered to take a 10 per cent pay cut given uncertainty over the length of the crude slump.

Cooper zeroed in on developing the $600m Sole gas field in the Gippsland Basin and its conservative balance sheet helped the company keep control of its most crucial asset through that market volatility.

“We expected we would end up with 35 per cent of Sole after the collapse in the oil price. But the support from staff and shareholders meant we were able to secure 100 per cent of it and have it fully funded,” Maxwell says. “At a time when the oil price was in the toilet and others were hurting. That gave us a huge sense of encouragement.”

It also embarked on a radical sales pitch. Rather than waiting until it started producing gas from Sole in mid-2019 to line up customers, Cooper entered five-to eight-year contracts several years ago with fuel-hungry power retailers including AGL Energy, EnergyAustralia and Alinta Energy to lock in supply, and departed from the norm of pricing gas on oil-linked contracts.

“What customers were saying to us in 2014 and 2015 was, ‘We want stability and certainty’,” Maxwell says. “We said we can provide a long-term contract with gas prices not linked to oil or the consumer price index. It helped us differentiate us from the competition.”

Instead, prices were struck at the start of the deal with a review four years in. The move also gave its financiers peace of mind over its revenue flows. With gas on the east coast now changing hands at up to $11 a gigajoule — three to four times historic levels of $3 — Maxwell admits it may lose out on some upside. But he considers it a worthwhile trade-off to gain a sense of market control.

With Sole production now on the horizon, Cooper is looking to exploration in the offshore Otway Basin with Japan’s Mitsui and is looking at the Manta gas field in the Gippsland Basin as another avenue for growth.

It might not quite be job done, but Maxwell is well advanced in seeing through his business pitch from seven years ago. And he’s actively weighing up the next leg of the Cooper adventure..
https://www.theaustralian.com.au/business/g...2f0f9148e1d6b72



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Oct 4 2018, 07:47 PM
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In Reply To: blacksheep's post @ Aug 13 2018, 12:12 PM

Three ASX listed oil juniors get a mention in Masterinvestor - UK publication run by Jim Mellon - "Riding the oil super-cycle" an interview with Angelos Damaskos of The Junior Oils Trust - https://www.junioroils.com/wp-content/uploa...1808_update.pdf

He mentions his top 5 juniors - their largest holding is CVN, the other two ASX listed jnrs are FAR and COE

The article can be viewed on p10 - https://masterinvestor.co.uk/magazine/#
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 13 2018, 12:12 PM
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In Reply To: blacksheep's post @ Jul 17 2018, 04:29 PM

QUOTE
FY18 results:
First full year of gas business drives record financial results

• Net profit after tax of $27.0 million up from loss of $12.3 million
• Significant items of $17.2 million including value realised from Orbost Gas Plant
• Underlying profit of $9.8 million up from loss of $8.7 million
• Underlying EBITDA up 515% to $32.6 million from $5.3 million
• Cash generation up 441% with cash from operating activities of $22.2 million
• Sole Gas Project taken from FID to 64% complete and is within schedule and budget
• New Otway gas contract secured and commenced; now negotiating 2019 contract
• Conference call and webcast 9 am AEDT Monday 13 August

https://www.shortman.com.au/stock?q=coe
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 17 2018, 04:29 PM
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In Reply To: blacksheep's post @ Jul 16 2018, 02:13 PM

Updated chart - reached a 52 week high of 45c - closed up 4.65% for the day
Shorts being squeezed?
https://www.shortman.com.au/stock?q=coe
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 16 2018, 02:13 PM
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Highlights from Quarterly released today. SP currently 42.25c - up 3%. Short positions @ 10/7/2018 = 3.92%
https://www.shortman.com.au/stock?q=coe
QUOTE
Q4 Production
• Q4 production up 6% on previous quarter, down 10% on pcp
• Full year production up 54% to 1.5 MMboe, at high end of upgraded guidance
• Successful Casino-5 workover lifts Casino Henry production 24% to 33 TJ/day (100% basis)

Q4 Sales revenue
• Q4 revenue up 24% on previous quarter and 51% on pcp
• Full year revenue of $66.7 million up 71%

Sole Gas Project
• 56% complete at 30 June
• First production well, Sole-3, completed and successfully tested 5-6 July
• Capex incurred to 30 June 2018: $189 million
• Offshore project within schedule and budget at 30 June and at Sole-3 completion

Commercial and other activity
• Agreement for Casino Henry joint venture to acquire Minerva Gas Plant
• Casino Henry gas supply tender for 2019 calendar year
• Planning for future drilling projects: Henry-2, Manta appraisal and exploration

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


nipper
post Posted: May 3 2018, 05:15 PM
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Drilling of the first new offshore gas production wells since 2012 will bring a new source of gas supply to Eastern Australia. A crew of 150 people began work on a large rig in the Gippsland Basin this week, 35 kilometres off the eastern Victorian coast, to drill the first of two new offshore gas production wells in the Sole gas field.

Cooper Energy began drilling as part of its $335 million Sole gas field development, previously owned by Santos. The Sole project will produce gas to APA Group's Orbost gas processing plant near Newmerella which is undergoing a $205 million upgrade.

Cooper Energy Managing Director, David Maxwell, said the 21,000 tonne drilling rig Ocean Monarch would be based off the East Gippsland coast, south of Sydenham Inlet..

"What we do is we drill down 782 metres below the sea bed and kick off with a small horizontal section which is about 90 metres. We do that twice and then we install casing, cement and a lot of kit in the well to safely produce the gas back up to the well heads into some manifolds and into the pipeline." "When the rig's on site, we're spending money at the rate of $700,000 to $750,000 a day. It's a 24/7 operation and there are two tugs standing just off the rig and they've got a few people on board as well," Mr Maxwell said.

A 65 kilometre pipeline will connect the wells to the onshore Orbost Gas Plant. Gas will be produced by mid 2019. The project is expected to supply 24 petajoules of gas per year from mid-2019. Seventy five per cent of the gas is contracted to a range of industrial customers and domestic suppliers including AGL, Energy Australia, Alinta Energy and glass maker O-I Australia.
http://www.abc.net.au/news/2018-05-03/two-...ection=business



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
OZGAZ
post Posted: Apr 16 2018, 09:18 PM
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In Reply To: nipper's post @ Apr 16 2018, 10:02 AM

Tend to agree with these sentiments Nipper.....have been on my watchlist for ages maybe buy in for long term hold



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Smile while TRADING it's only money... :)
 
nipper
post Posted: Apr 16 2018, 10:02 AM
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Cooper Energy is one of the junior companies best placed to bring new sources of gas into the east coast, and since November 2016 has raised just under $600m in debt and equity to advance its plans. Yet its shares are down over the past year, something managing director David Maxwell blames on the complexity of the east coast energy market.

“I put investors in two camps. There are those that understand it and have taken positions, and there’s another group — and that’s the bulk of them — that are sitting there trying to work it out,” Mr Maxwell said.

But the fundamental shortage of new supply sources on the horizon on the east coast meant gas prices should remain strong.

“There are lots of options, but under all the different scenarios supply is still tight and prices remain much higher than they used to be,” he said.

“There’s no scenario that we see or hear about that says prices are going back to where they were, and that’s taking people a bit of time to come to grips with."




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Oct 24 2016, 10:33 AM
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Santos has sold its first asset under new chief executive Kevin Gallagher, striking an $82 million deal with junior Cooper Energy for the divestment of its Victorian gas business.

The assets include a 50 per cent stake in the producing Casino-Henry gas project in the Otway Basin off the coast of Victoria, and a half-share in the Orbost gas processing plant onshore. Also included are a 10 per cent stake in the Minerva gas venture and all of the mostly depleted Patricia Baleen gas field, as well as exploration acreage

Cooper is launching a capital raising to help fund the initial cash part of the payment, with the rest due later. A fully underwritten, accelerated non-renounceable entitlement offer to raise approximately $62.6 million
–1 for 2 pro-rata entitlement offer, at an offer price of $0.285 per new share
–14.9% discount to TERP of $0.335 based on closing price of $0.36 on 21 October



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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