thailand operations update, page-19

Hi EL,

I'm massively overweight on this stock, but I'm not prepared to take the capital gains hit this financial year. I know it's less than ideal to be so reliant on one stock, and once my 12 months has expired I will sell some and buy a few other stocks to "balance" my portfolio, spread the risk etc.

Apart from having all the eggs in the one basket, another problem with being one dimensional is the risk of losing a bit of objectivity. I suppose that's one reason why I like the contrary opinion, it forces me to think carefully and check that my reasoning is sound.

The SP got punished over the last couple of days. But I try to look past that and focus on the longer term view. I think CVN/POE have a very good chance of achieving around 20,000 bopd by the end of the year, with a lot more activity starting to occur on other blocks and elsewhere in the world. If that does end up being the case, then the SP will be way above where it is now - and that's what I need to be focussing on, not the current weakness.

PS I bought some more PNA with my last "top up" funds, it reached my "buy" level of 90c before CVN reached my "absolutely must buy" level of 40c!