CVN carnarvon energy limited
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CVN A$158 mill cash and receivables, page-129

  1. eyeswideopen
    11,515 Posts.
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    28/02/15
    02:49
    Post #: 14835356
    VH, I've made it pretty clear in my posts.

    I won't be buying at full cash backing and watch that cash pile dwindle by the day.

    PS1 with all these delays the odds are it wasn't as good as first thought, probably poor porosity?

    The cash pile will have to be discounted heavily as it is earmarked too be spent before any oil is sold.

    I'm not a buyer at full cash backing.

    You can always jump in should it take off.

    Lets not forget at present it has no oil reserve
    to stop a sp fall and the market is an emotional beast.
    CVN Price at posting: 15.0¢ Sentiment: Sell Disclosure: Not Held
    Likes Created with Sketch. 1  Upvote
    lightbulb Created with Sketch.  Great analysis
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