CVN

3.23%

15.0¢ carnarvon energy limited

Ann: Creating a World Class Stratigraphic Database-CVN.AX, page-30

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08/07/16

13:05

Post #: 18225143
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Originally posted by AoverT ↑

Don't see it quite like that. You must remember that our major private shareholder and non exec director has 35 years of experience in petroleum exploration and it was he that principally guided and inspired CVN to buy the NWS assets during the GFC for peanuts.

During those 35 years he had experience all over the world and then co founded two highly successful ASX companies, Discovery Petroleum (DIP) and Tap oil Ltd (TAP), and am sure he still plays a major hand "behind the scenes".

What am trying to say is that IMO CVN will primarily use this new alliance to identify new exploration prospects and presumably buy those assets hopefully 100%. Having secured such assets they then become exploitable in all sorts of ways, outright sales, joint venture arrangements etc etc.

To that end have replicated what AC said in his ASX release, (personally think it's a great forward move).:
-----------------------------------------------
"The business of Carnarvon is built around innovative geoscience, creating new exploration concepts in our current and prospective acreage, and an endeavour to deliver significant shareholder value, through major hydrocarbon discoveries.

Core to innovation is a top quality geoscience database. The Carnarvon management team has invested in building a ‘state of the art’ database covering the NWS, giving the Carnarvon geoscience team the very best tools to explore for new hydrocarbon accumulations.
Our investment in our geoscience also includes building a high quality and consistent wireline log dataset; building a class-leading Triassic geochemical database, purchasing a satellite seep database of the NWS, purchasing a comprehensive seismic and velocity dataset in our core NWS areas and acquiring significant new seismic data in potentially the next major NWS oil and gas province in the Roc/Phoenix areas.
This new stratigraphic database will provide Carnarvon with the geoscience firepower to lead in hydrocarbon exploration on the NWS."

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Imo, the words to pay attention to in that quote is "creating" out of thin air? and "concept", no more than a theory?

Buyer beware.

CVN Price at posting: 10.5¢ Sentiment: Sell Disclosure: Not Held
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Ann: Creating a World Class Stratigraphic Database-CVN.AX, page-30

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