imho - the reason the stock is being smashed is 2-fold:
1. the results from PS-3 suggest a tight reservoir, it may be "solveable" (understanding the stress direction / fracture orientation / angled well bores), and the brief info the company released suggests low net-to-gross, meaning that if it flows, then vols may get smaller ........as a result - the aggregate volumetrics across Roc and PS may not meet the min threshold ......
2. mr market understands that appraisal of Dor - may require some additional cash .......
as with all juniors - there are periods of time when nothing happens, and then times when it all happens .......
for CVN - they need to make some rational decisions regarding capital allocation:
1. they could sell 50-70% of Buffalo, for say 20-25m and a part carry ........this would be positive given it needs 20m spent to see if the upside case exsists !
2. come out with a new resource statement .....as people have said - its abt Dorado now ......
3. hopefully - Quad wants to appraise this one asap .....
4. farm down Lab....
I took profits ....and now don't hold ......
I still think Dorado has "large upside" ........
but - mr market wont pay-up in the short-term - b/c of perceptions over reservoir risk (ie how it varies over the greater Dor-Roc structure).....
rgds
V_H
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16.0¢ |
Change
0.005(3.23%) |
Mkt cap ! $286.2M |
Open | High | Low | Value | Volume |
16.0¢ | 16.0¢ | 15.8¢ | $136.6K | 855.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 166365 | 15.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.0¢ | 184462 | 4 |
View Market Depth
No. | Vol. | Price($) |
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4 | 106688 | 0.155 |
11 | 1673891 | 0.150 |
20 | 477375 | 0.145 |
14 | 571795 | 0.140 |
3 | 487000 | 0.135 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 159462 | 3 |
0.165 | 335710 | 6 |
0.170 | 534952 | 11 |
0.175 | 569536 | 8 |
0.180 | 602975 | 9 |
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