Shale oil is a capital intensive business, and continues to be as each well declines and the operator has to drill more and more to sustain production. The whole shale "boom" has been driven by Wall St debt, and very few of the operators are generating returns. If Wall St loses interest, times will get very interesting.
Curiously enough, CVN currently has a market cap. about the same as PLS at the moment, which I find ironic given the market sentiment and all the talk of hydrocarbon substitution....
Ann: STO: Strong Caley oil flow advances Dorado, page-85
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Last
17.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $304.1M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 16.5¢ | $297.0K | 1.750M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 183349 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 67582 | 3 |
View Market Depth
| Last trade - 16.10pm 16/10/2024 (20 minute delay) ? |
| CVN (ASX) Chart |