Rastus,I can immediately think of ten reasons to invest in...

Rastus,

I can immediately think of ten reasons to invest in CVN:

1. Low POO. Realistically it's not going much lower (20% or so tops), but could quite feasably rise 75% in the medium term.
2. Dow at 6 year lows. May go a bit lower in the short term (but may not), but if you take a medium to long term view then good buying here.
3. JV with SUR. The new Thai gov't has been sitting on some approvals for a little while now. Once they sign off, the action begins to heat up and a well will be drilled within 6 months of signing of approvals IMO.
4. JV with Pearl. Again, awaiting Thai gov't to formally award the block and for exploration to begin. Could happen any day.
5. Warro and local exploration.
6. Drilling currently is not for production building, but reserves accumulation. Any successes at all add to their reserves position.
7. Updated reserves statement should be released within 6 weeks.
8. War chest being built to purchase distressed assets. IMO this one is a little way off, but it could happen any day I suppose.
9. Dividends. Probably a little way off, but they have stated this is an option for them down the track.
10. Takeover. Must be starting to appear on the radar of a few large oilers I would have thought??

Lots of upside IMO, and a lot of it could happen any day. But, as they say, each to their own.