looking like the fall is over., page-45

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I am confused wrt the CVN story. It certainly was overvalued at 80+ and I got out then.

Unfortunately I came back in around 50 and topped up heavily in the 30s some time back. The production story has been a disaster. I am starting to think they need a person to turn around the volcanics production story. There's clearly a heap of oil there, but it is lacking the magic touch.

I have far too many already, otherwise I'd be topping up heavily around this level as it's not going to need much somewhere in the CVN portfolio to go right to support a large chunk of the circa $100mm EV. One might say the 1P just about does. I do have a small buy order in the queue (not far from yours).

I am reluctant to strongly call it a buy given my past misreading of the story, but there's a lot far worse in the oil patch.

Jacobsen still strikes me as astute, skilled and honest.

EL