good news week, page-6

El
My belief is its more to do with getting institutional support rather than the traders it has long held as the majority of its shareholders. The institutions have only held off because of the belief in volcanics suffering from watering out over time. With POE9 being the oldest volcanic and not having watered out (with only a small drop of in flow) CVN is now able to strongly point this out in in their institutional presentations. CVN and Mr Jacobson in particular are pushing strongly to get more institution support.

The fiscal regime in Thailand is very comparable to Aust under 20,000 bopd which is still a long way from their current 10,000 bopd.

Even if they stopped at 20,000bopd in NSE it makes CVN very very cash rich, and from a shareholders point of view a very cheap buy at 0.70 odd cents per share. CVN has well proven runs on the board since drilling POE9, and there is absolute no doubt NSE will provide much more. No virtual oil at NSE which is more than you can say for the majority of other mid sized oilers.

With the 3D seismic, geology logs, flow testing showing the mistakes of the vertical L44H (1980bopd) and now proven theory with POE9 (380bopd) vs POE9A (682bopd), you don't need to be a rocket scientist to see the upcoming deviated L44H-D2 will flow close again to the 4000bopd of L44H-D1 rather than 1980bopd of L44H. Imo given the success of strike rates I think the market "might" finally be understanding what kind of golden goose CVN actually has.

This imo is being indicated with the strong buying and strength in the SP, where in the past a 21 odd days between the next announcement would see continued sell off and a downwards spiral in the SP. You will always get a sell off on good news as traders take profit, but those who actually study and understand the company will know very well that L44H-D2 flow results are only 21 days away. You would need to have your head in the sand to believe CVN have no more poo to be found.