cvn sp, page-9

Axegun,

I can appreciate your perspective if you are trying to trade it off indicators, and other second hand information.

However you should not confuse the very successful reinvestment of cashflow into reserves additions as a sign of lack of profitability, after all we have a current net annual production of circa 1 mmbo pa carrying reserve increases of circa 7 mmbo pa (over each of the last three years. For company to do that from cashflow is no mean feat!

The FP sell was well discussed here at the time, and FP had already collected a lot of disrespect here long before that. Likewise the one director habitually reducing his huge holding has been well chewed over here - one could surmise he was left well overweight this stock after it's phoenix like rise from the penny dreadful bin.

I feel no sorrow for those that bought at 86 cents last year, as some of those were my sells. I did however buy back in prematurely, but then one seldom picks the very top, nor the bottom, and I don't normally sell to buy back in. It was just that the 80's last year were such a screaming sell on fundamentals.

Will be very good on a 1 to 2 year plus time frame imho.

EL