Hi Folks,
I am no geologist, but I thought todays announcement hugely reduced the risk on this investment. Therefore a little suprised to see the retreat to 16 cents.
With just about all the other good stories I had been watching running away in front of me, and sitting on a heap of nickel proceeds, what was I to do? I topped up CVN again, by 25% at 16 cents. I won't buy more, this will either be a poor/mediocre investment, or it will jump to the front of my portfolio this year.
I"d like to believe ARQ will discover oil in the Canning - but I am not sure, I'd also like to believe many of the other good stories, but where are the odds as good as on CVN having a lot of oil AND being cashflow positive very soon.
When you start a program happy with 100 bopd wells, and get 700 bopd from these same cheap wells, that is absolutely great. I hope they can get enough road tankers!
Goodluck to all the patient.
EL
ns4 stabilised rate at 686 bbld., page-14
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Last
19.5¢ |
Change
-0.005(2.50%) |
Mkt cap ! $348.8M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 19.5¢ | $95.83K | 484.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 1030482 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 439508 | 7 |
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| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| CVN (ASX) Chart |