ID: Think you pose the most basic question of all given the world seems trapped in a sub USD50 WTI oil price.
The world is using more oil than is being discovered, ie the replacement factor favours companies like CVN since we are FINDING new and therefore replacement deposits of hydrocarbons.
Simply cannot see the wisdom in developing into production at current oil prices, which IMHO is why our share price goes nowhere in spite of all the very good news being produced.
Having said that what is undeniable is the fact CVN continues building a growing asset base at minimal cost, again IMHO at some stage the big end of town will take notice, of course if the oil price suddenly jumps USD30 a barrel an entirely different scenario unfolds.
Rest assured we aren't the only oil company shareholders "On Hold".
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