| Ticker: COSE | 400 West Illinois, Suite 1000 | |
| Exchange: NASDAQ-National Market | Midland, Texas 79701 | |
| Industry: Natural Resources | (915) 683-3092 |
| Type of Shares: | Common Shares | Filing Date: | 7/26/96 | |
| U.S. Shares: | 4,800,000 | Offer Date: | 10/2/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 4,800,000 | Offer Price: | $12.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.88 | |
| Offering Amount: | $72,000,000 | Selling: | $0.50 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 10,000,000 |
| Manager | Tier | Phone |
| Prudential Securities Incorporated | Lead Manager | (212) 214-3000 |
| Rauscher Pierce Refsnes, Inc. | Co-manager | (214) 978-5491 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/30/96 | ||
| Revenue: | $21.82 | $8.95 | $2.18 | Assets: | $91.02 |
| Net Income: | -$4.31 | $0.00 | -$1.05 | Liabilities: | $86.88 |
| EPS: | Equity: | $4.14 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company explores for and develops oil and gas properties in the Texas portion of the Permian Basin and the Gulf Coast, as well as in the Rocky Mountain region of the U.S. The company's strategy focuses on increasing reserves through a targeted exploration program, the exploitation of its existing properties and selective property acquisitions. In addition, the company recently acquired an interest in a concession for the development of mineral interests in the Republic of Moldova, in Eastern Europe. The company also has minor interests in the domestic gas gathering and transmission business. The company's predecessor began operating in 1988 with the strategy of acquiring and exploiting undervalued oil and gas properties, and at December 31, 1992 had net proved reserves of 4.7 MMBOE. Since January 1, 1993, the company has successfully closed seven transactions for an aggregate purchase price of approximately $101 million. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay existing indebtedness, to pay certain costs incurred in connection with the Corporate reorganization, and for general corporate purposes. |
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