AU : Cooper Energy - Sales pick up

COE has provided an operational and financial update. Importantly sales volumes out of Sole have risen above 51tj/d on seasonal demand strength for gas. Production from Sole remains volatile, with Orbost plant operator APA trying to flex production. FY21 capex guidance cut to A$35-$40m (from $45-$50m). Maintain Add rating with A$0.36 target price (was A$0.34).

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