Looking at the recent SP fall, all I can see here is great value.
Assume the 2nd half attributable production is 500,000 boe. The way the current POO is trending it is not unlikely that $80/barrel oil will be realised- $40m in revenue. This will yield a GP of approx $28m. The forex loss in H1 will not increase as the USD$ will not continue to dive indefinitely.CVN could see a net profit before tax of $20m+ in H2.
The reserves growth at CVN in the last 3 years has been extraordinary so any further increases in 2P reserves will also boost value/sentiment. The last few days of panick selling could be the greatest buying opportunity in 2011 for CVN
2nd half year
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Last
16.0¢ |
Change
-0.005(3.03%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 16.0¢ | 16.0¢ | 15.5¢ | $125.3K | 783.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 1721800 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 762725 | 7 |
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| Last trade - 14.08pm 12/11/2024 (20 minute delay) ? |
| CVN (ASX) Chart |