B2
From a oilspec market strategy perspective CVN is looking like a buy with a 3 to 6 month view.
I believe they are conducting another drill program mid this year? I am not sure of timing.
I believe the current price of 4 cents is the base of a consolidation zone and it is unlikely to head too much lower. Pre the last drill program they ran to 6 cents. That is 50% above the current price.
There is reasonable probability they will run to at least 5 cents and above as the new drill campaign approaches, particularly if they sprout on about the new exploration potential they will drill. I see a 25% low risk trade here as a minimum.
Irrespective of past disappointments and lower than predicted cashflows, there is nealry always a pre-drill program speculative bubble for us to ride on.
The only caveat I place is whether CVN will have to raise cash. That needs to be checked. Placements always dampen the pre-drill speculative price action.
I cant say whether I will buy CVN or not, but I do think are they starting to look like a low risk investment.
But maybe your charts dont tell you this???
acturtle
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Last
15.0¢ |
Change
-0.005(3.23%) |
Mkt cap ! $268.3M |
Open | High | Low | Value | Volume |
15.0¢ | 15.5¢ | 14.5¢ | $378.0K | 2.520M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 102702 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.5¢ | 707662 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 79705 | 0.150 |
19 | 711807 | 0.145 |
8 | 552300 | 0.140 |
2 | 437000 | 0.135 |
2 | 402500 | 0.130 |
Price($) | Vol. | No. |
---|---|---|
0.155 | 707662 | 12 |
0.160 | 1249760 | 17 |
0.165 | 219060 | 5 |
0.170 | 797788 | 12 |
0.175 | 678226 | 6 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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