IMO CVN have been punished for the failure that was Buffalo. While it was never going to be the major focus the short term cashflow really improved any discounted cashflow model.
Its interesting that they are now actively looking for some immediate cashflow. That won't come from new technologies or buying another explorer. For immediate cashflow it needs to be a smaller producer. There are a handful of undervalued smaller producers that would fit the bill. It just comes down to how CVN can see themselves benefitting from and adding value to one of these.
Right now CVN is beholden to the highest bidder for its assets and coming off the current SP it might not be on the best terms.
If CVN can buy themselves some cashflow and breathing space it may give them the chance to better realise the true value of Dorado/Pavo.
Acquisitions ..., page-3
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19.5¢ |
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Mkt cap ! $348.8M | |||
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