Cooper Energy Limited (ASX:COE) up on June 18 Quarter Report with an updated Production Guidance

Be the First to Comment Read

Cooper Energy Limited (ASX:COE) up on June 18 Quarter Report with an updated Production Guidance

 Cooper Energy Limited (ASX:COE) up on June 18 Quarter Report with an updated Production Guidance

Cooper Energy released its June Quarter Report and upgraded production guidance which was within schedule and budget for its major development, the offshore Sole Gas Project. The Group reported an increase of 6 per cent in production (0.35 million boe) as compared to the previous quarter. Further, the Group recorded an increase of 51 per cent in its quarterly revenue on pcp and the same amounted to $19.6 million from $13.0 million. Its full year production of 1.49 million boe was 54 per cent higher than the previous year and this was driven by full year contribution from the Casino Henry and Minerva assets that were acquired effectively from 1 January 2017 and increased Cooper Basin oil production.

Cash Balance at 30 June was $254.3 million which was largely unchanged from $254.9 million at the beginning of the quarter. Its Sole Gas Project involves the development of the Sole gas field and upgrade of the Orbost Gas Processing Plant to supply approximately 24 PJ per annum from 2019 and the total Sole Gas Project has progressed during the quarter to 56 per cent complete as at 30 June 2018. It is expected that FY19 will be a year of consolidation as the Sole Gas Project will be completed and preparations will be made for an offshore drilling campaign which will commence in the December quarter 2019 (subject to rig availability) and the Group anticipates a production of approximately 1.4 million boe from existing operations. The Group is planning to acquire the Minerva Gas Plant with respect to an agreement with BHP and it will provide an edge to its plans for the development of an Otway Basin supply hub. The stock price climbed up by 2.92 per cent and was trading at $0.422 that is very near to its 52-week high price of $0.430 (as on 16 July 2018; 02:30 PM AEST).

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


Speak your Mind

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK