If you look at a comparison between CVN and FAR.
Both discovered oil.
FAR discovered oil in both FAN 1 and SNE 1, in deep water - FAR holds 15% interest.
CVN discovered oil in PS1 and likely PS, in shallow water - CVN holds 20% interest.
Cash and receivables in FAR is about $68 M AUD.
Cash and receivables in CVN is about $150 M AUD.
FAR market value is around $300M AUD.
CVN market value is around $175M AUD.
I hold shares in both companies, and I personally believe CVN is undervalued.
CVN is almost valued at its cash and receivables position - as if they did not discover about 300M barrels of oil at PS1.
Even if only half of it was recoverable at PS1 (150 M barrels), and not considering PS at the moment, our 20% share means we get at least 30M barrels.
IMHO, CVN market value should be around $300M, should be about the same as FAR.
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14.0¢ |
Change
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Mkt cap ! $250.4M |
Open | High | Low | Value | Volume |
14.5¢ | 14.5¢ | 14.0¢ | $173.1K | 1.201M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 2590540 | 14.0¢ |
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Price($) | Vol. | No. |
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14.5¢ | 420869 | 8 |
View Market Depth
No. | Vol. | Price($) |
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12 | 2590540 | 0.140 |
5 | 518930 | 0.135 |
2 | 402500 | 0.130 |
1 | 257502 | 0.125 |
3 | 100629 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.145 | 420869 | 8 |
0.150 | 347491 | 7 |
0.155 | 553157 | 13 |
0.160 | 1401670 | 19 |
0.165 | 225510 | 6 |
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