You misunderstand, Wealth Destruction occurs amongst oilers when they fail to replace reserves profitably. Simple. Moving up and down the indices is only a reflection of the collective perception of that. True a few blindly follow indices, or blindly follow momentum magnifying the short term swings a bit. That said the main game is oil, and the WEALTH is the OIL.
Back to CVN. What a load of nonsense about lack of blue sky in the leases. Look at the sp, less than that supportable by more reliable exploitation of the L44 lease.
So what about the L33 lease? black sky? What about the leases in Southern Thailand? black sky?
If you want reliable in the oil patch, go buy WPL or OSH.
"Big investors project what their profits might be for certain stocks before investing."
Oh, and do you contradict yourself? These "big investors" of yours sound like they are looking forward, not timidly looking backwards by buying into indices.
EWO, open them and you shall see.
Lets not get the cart before the horse. Wealth creation/destruction occurs in the oil field and is reflected many months later (if at all) in the ASX indices.
EL
CVN Price at posting:
43.4¢ Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)