Ann: Placement to Fund Expanded Appraisal and Exploration Program, page-81

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docmin24

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13/02/19

19:13

Post #: 37428045
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Originally posted by Cosmoterios ↑

Originally posted by kevin103
Buffalo cost of appraisal wells not stated in the CR presentation.
So D2 & D3 will cost us around $50mil over 2 well and ROCS1 and 3D another $15m
$65m of our $100mil is earmarked so that leaves us about $40m for Buffalo ?

Gosh things are starting to get expensive for a junior oiler like CVN

We are facing Brexit and the prospect of a Trade War between the US and China.

It is prudent to raise now - even if its above what is required.

Many people this time last year were complaining about the CR then (not you, as you were not an investor then), about raising more than needed. As you can see, after all the drillings from 2018, we still had $50M in the kitty.

That is what it should be for an O & G company - especially one with no operating income. Its what a well managed company does.

If you want to look what a badly managed company does - have a look at FAR: its on its knees now because it did not raise enough early.

The other good thing is: our management have applied the funds appropriately to add value for shareholders.

That is what I am after as a shareholder: our SP from last year's CR went up some 400% - at its peak, it was up 600%.

What else can I ask for, as a shareholder?!?

And no, I don't like to be diluted and see paper losses.

But this year's programme gives us plenty of opportunities for share price appreciation. That is what I as a shareholder look forward to.

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Well said. Totally agree with your comment re FAR and raising funds for CVN. What’s more important is only a 10% discount not 20-30% as many poorly managed coys do. Exciting times ahead for holders. Hopefully be back in soon enough. Was very impressed with presentation at GOC. GLTA.

CVN Price at posting: 37.0¢ Sentiment: Hold Disclosure: Not Held
7 Upvote

2 Great analysis

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