Things are getting interesting but at the end of the day, there is a lot of value to be realised if they can push through to production. 10% share in some sweet oil and then some very attractive gas to chase it up with. The biggest hitter is these guys still hold a portfolio of ground ready for further exploration with a very healthy strike rate. Lots of cash, lots of oil and lots of speccy upside and opportunity.
I have a vague recollection of Adrian Cook saying a takeover would need to be $1+... correct me if I'm wrong? I'd be pretty confident of a buy out in excess of 70c. This is a mature play and the biggest untapped reserve currently sitting in wait... gas and oil are the pathway to green energy so nobody would expect it to be sold for peanuts.
Exciting period coming.
CVN Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
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