spot on jordy!!
as per the investor presentation 08/04:
slide 14... "2009 production impacted by exploration drilling focus"
slide 19... "focus on high margin production in 2010".
CVN now have reserves whith a 20yr life, they are focusing on high margin production during 2010 with the price of oil at recent highs while still drilling potential targets.
whether or not this is a problem depends on ur investment timeframe.
the slide in the SP is probably due to the following formula...
decreasing production = decreasing income = decreasing net profit = selling pressure = decreasing SP.
i would expect the formula to hold true for increasing production.
time will tell.
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