CVN 0.00% 19.5¢ carnarvon energy limited

Ann: STO: Strong Caley oil flow advances Dorado, page-93

  1. 64 Posts.
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    To point out the obvious. We have now ticked (and underlined) many of the steps to monetizing this discovery. From here the speed that we progress through FEED (front-end engineering design) and FID (financial investment decision) cycle will help determine our SP rate of rise.
    The many other factors I can see positively affecting SP are:
    -booking of Dorado prospective reserves
    -Buffalo timing and potential partner terms
    -farm out of other non Dorado CVN acreages (inc Labyrinth)
    -Santos farmout agreement
    -CVN take over discussions

    My preferred near horizon strategy for CVN would be:
    -no takeover talk
    -Farm down Buffalo (maybe with Santos) and hand over to other as operator. Cash to initially fund Dorado feasibilty commitments and then any project costs.
    -offload all other permits not in Bedout Basin or Buffalo fields (or at least farm down to free carry)
    -Gather data including further drilling of Bedout basin targets.
    -Depending on outcome of previous Farm down Labyrinth to get 30% share across all Bedout permits. Including newly issued BP/STO JV . (may be dreaming here)

    I guess the AGM will be in November? I have fingers crossed we will be presented with the company's well considered plan and maybe they will share some insights to some of the above.
    If it's true that shorts have to be handed back prior to AGM that leaves time short for them.
 
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