production declining-jan figures just out, page-11

There are better feeds elsewhere as I am sure B2 would attest to. Too much risk in CVN for myself. It has time and time again continued to disappoint. The wells display the characteristic of continuous decline. Just go through the announcements for yourself. Check its track record and see. In short the stock price is the true reflection of a company's performance. Look at the CVN chart for the past 3 months and tell the punters what you see? The trend is always your friend.

The facts remain that they informed to the market that a minimum 700 barrels of oil would flow. Fact is that they couldn't even get half that. Excuses, excuses, while you watch your equity eroded by the effluxion of time.

It is obvious they do not have the expertise to extract the oil efficiently. Why can Shell do it 'next door'? They have had numerous chances i.e. fracc's, jet pumps bla bla bla.

Bottom line is they cannot run the operation as a commercial venture. About this there can be no doubt. Now they could drill more holes in the ground but that requires more capital of which CVN lacks thereof. An issue or placement is imminent but looking at the share price one cannot help but wonder at the dilution that would take place. One would envisage they would need at least a few million to drill the next stage, not to mention the inherent risk involved in same.

PTE has annoounced an issue at .40 however looking at its shareprice lately, it has failed to even get over .40

CVN is thus not worth a look IMHO. Better oilers out there. ARQ for instance.