Eyes,
The chips are expensive in the big boys game of offshore appraisal. It's about holding our 20% in Phoenix and minimising dilutionary CRs. The size and timing of the spend in the permits is out of our control, the JV will decide, led by Apache. Accepting this fact is not drunkeness.
Amusing to see some with the certainty of extremely high valuations on Phoenix now questioning whether we should sell our dog to catch this ( supposedly certain) elephant.
Imho in the spirit of restraint and frugalness with shareholders resources it is laudable that management is seeking to sell something to fund the exploration and appraisal, rather than to rattle the tin.
Lets hope the JV gets drunk on drilling mud for multiple wells next year. Roc, PS-2 & 3 and Prospect X. And gets to spend a heap on more seismic.
I just want CVN to be able to last the party out.
EL
Thai Divestment, page-18
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Last
16.0¢ |
Change
-0.005(3.03%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 16.5¢ | 15.5¢ | $143.0K | 897.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 147063 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 795942 | 6 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| CVN (ASX) Chart |