yet another fat prophets buy recommendation, page-19

Of course I am bullish (CVN has made me a lot of money) but like everyone there is a limit if I can no longer see forward motion. Secret is to get to know your company, the people behind it and to try to understand the content of your companies meetings and releases.

However the fact remains that the scope for CVN even just within the joint venture has quite a few more years to play out .. before we will see the "reality" of what it holds. With strike rates, production, infrastructure and reserves increasing like any good thing, certain naysayers will always start with "the sky is falling", but before that happens as with any oil exploration/production there will be tell tale signs (unlike uncontrollable stuff like subprime).

Back in early 2005 CVN was just my punt based on them getting rid of the deadwood and getting an experienced CEO on the board.(Mr Jacobson). Ive been to every shareholder meeting since they moved from Melbourne to Perth so Ive seen the growth and expectations unfold. The aim for CVN is to easily be Mr Jacobson's most successful company, which includes the likes of TAP Oil and Discovery Petroleum (T/O by AWE).

I now only have 3 oilers in my portfolio (as of today). But the scope for what CVN may achieve on my buy in price leaves me not worrying one bit about ever achieving that Powerball win.