CVN

2.94%

16.5¢ carnarvon energy limited

Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-12

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myHC101

465 Posts.

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25/07/24

16:33

Post #: 74917803
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Originally posted by Cashmeoutside: ↑

Santos has an identity crisis right now.. and it's not hard to see this via numerous actions of late. So far as I can see Santos has 3 businesses...

1. LNG (GLNG in QLD, PNG LNG, Barossa)
2. Domestic Aus - (Cooper Basin, Surat Basin, WA dom/Carnarvon Basin and Narrabri)
3. Oil and Gas - (Pikka and Dorado)

And there's a big push for STO to simplify this and focus on the LNG.

If the other Aussie oil and gas prospects weren't the basket cases they are you could easily have a Cooper Energy or Beach Energy picking up those domestic Aus businesses above (2). But they're focused on getting their own house in order so M&A unlikely soon.. perhaps a demerger is an option.

If Karoon wasnt such a basket case they would have gone from the oil and gas projects.. not who dat.. but alas here we are.

As it pertains to Dorado.. CVN tell us we have a 60,000bbl/day (22mmbbl/yr), $10/bbl opex, <$2bn capex project. At $50/bbl margins on that 22mmbbl/yr you're making north of US$1bn a year and there's over 160mmbbl. So a 2yr payback and very healthy return on equity.

So I think the Asset (Dorado) is good, the new management of CVN are good, the price of CVN stock is attractive... it's just that it currently sits in a vehicle (STO) that is not the best home given the identity crisis above. But I have no doubt the above resolves.. and for STO selling business (3) might be a good first move before flipping the domestic stuff into one of the other domestic players (BPT, COE) or demerging and creating a new dom player.

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Good post... you need to add Pavo to those numbers as well.
GLTAH

CVN Price at posting: 16.5¢ Sentiment: Hold Disclosure: Held
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Last 16.5¢		Change -0.005(2.94%)		Mkt cap ! $295.1M

Open	High	Low	Value	Volume
16.5¢	16.5¢	16.0¢	$200.6K	1.232M

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No.	Vol.	Price($)
3	145000	16.0¢

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Price($)	Vol.	No.
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No.	Vol.	Price($)
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23	1579226	0.150
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Price($)	Vol.	No.
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Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-12

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Is oil undervalued?

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

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Venture to sniff out high-grade REE targets at Jupiter project, WA

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

GreenX picks up prospective copper project in Germany

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Westgold sets its sights on top five producer status through merger with Karora

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

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Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-12

Top Stories

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Is oil undervalued?

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Venture to sniff out high-grade REE targets at Jupiter project, WA

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

GreenX picks up prospective copper project in Germany

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Westgold sets its sights on top five producer status through merger with Karora

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

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