announcment out, page-16

Intellimoney

"Growth is slow and currently pouring all their profits in finding new wells and defining the reserve."

What utterly incorrect rubbish. The average well (including dusters) has been paying out fully before the quarterly report in which it was drilled has been published. LOL.


"It is also reliant on trucks transporting oil to refinery so consistent flows and income cannot be guaranteed."

Yeah, like all forty something trucks crashing on the 4 lane highway simultaneously? Get real, the logistics are about as cheap, reliable and simple as they come. I will be happy when they put their hundredth truck in service, and still doing the job for about 3 USD/bbl.LOL!!!

And you prefer perenial underperformers like ROC ( a dog I long since lost patience), plagued with reserve writedowns, dusters and cost overruns, who has needed to get to about 5 fields in service before turning cashflow positive, and still only marginally profitable. Look at what is to show for the hundreds of millions ROC has rasied over recent years.

CVN is an oilers dream come true, perhaps a one in 50 event on the ASX oiler list. Whether 55 cents is excessive or not is debatable, but however you spin it CVN has been a spectacular success. In my own estimate the probable value of NSE covers most, but not all, of CVN's sp.

Don't know what you drink, or smoke while reading your quarterlies, but your sure wrote a rambling unsubstantiated downramp. Get a calculator, and do some reading mate!

EL
Discl: have sold some recently to reweight, derisk my portfolio (and do some bargain hunting amongst miners).