Cooper Energy Reported 21% Sales Growth in September Quarter

  • Oct 15, 2019 AEDT
  • Team Kalkine

The September quarter was successful in many fronts for Cooper Energy Limited (ASX: COE) as the company recorded a sales growth of 21% in the quarter as compared to its previous quarter, driven by higher gas production and prices. The company reported revenue from the sale of gas of $17.2 million, 32% higher than the prior quarter.

Key Highlights:

  • Quarterly Production was up by 22% to 0.39 million boe from prior quarter’s 0.32 million boe;
  • The upstream Sole Gas project was completed, within budget, ready to supply gas to Orbost plant;
  • Company made a promising gas field discovery at Annie.

At AEST 01:01 PM, the stock was trading at $0.565 per share, up by 2.727% from its previous close.


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