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
20.5¢ |
Change
0.005(2.50%) |
Mkt cap ! $366.6M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.5¢ | 20.0¢ | $724.4K | 3.558M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 279612 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 485773 | 5 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| CVN (ASX) Chart |