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14.5¢ carnarvon energy limited

Well said mate....

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Timboon

34 Posts.

12

31/10/23

09:56

Post #: 70632668
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Originally posted by entropylord: ↑

I should have thought it pretty obvious that STO bringing in a new partner and FID were very likely to be proximal timewise and related. STO want the best price which they won’t get without being ready for FID.

CVN needed to farm down regardless, because they needed the financing certainty that it provided. They could not risk being able to close a better deal at the last moment (as well resourced and decision making STO can).

We can expect STO to get a better price than CVN did because the risk and discount around FID should have been all but removed, but nothing is certain, markets can always turn worse etc. Imho CVN were prudent and got a decent deal.

Besides if they’d held 20% they’d have needed twice as big a CR to raise the equivalent equity component, and at the ten (and now) sp that would have been unbearably dilutitive

Imo some credit needs to be given to our management, they have made capital and risk management decisions much better than many of their peers have. And we still retain 2/3 of the upside in the currently more promising (exploration-wise) eastern 2 permits. These good decisions of course require considerable background work by smart well paid executives.

EL

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Well said mate....

CVN Price at posting: 15.5¢ Sentiment: Buy Disclosure: Held
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Last 14.5¢		Change -0.005(3.33%)		Mkt cap ! $259.4M

Open	High	Low	Value	Volume
15.0¢	15.0¢	14.5¢	$260.6K	1.776M

Buyers (Bids)

No.	Vol.	Price($)
14	1647050	14.5¢

Sellers (Offers)

Price($)	Vol.	No.
15.0¢	408931	6

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No.	Vol.	Price($)
14	1647050	0.145
15	2399424	0.140
3	462000	0.135
4	529300	0.130
2	257503	0.125

Price($)	Vol.	No.
0.150	393931	5
0.155	869157	16
0.160	1130434	17
0.165	245510	7
0.170	477678	10

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