been looking at poe

Hi Folks,

We crashed on open on Monday 31 Aug despite a fairly good FY report to digest over the weekend. I think profit exceeded expectation, plus the update released before open on Monday really gave further justification for the lower production, which CVN had already well flagged (but perhaps not justified as well). All up imho no nasty suprises.

However on Friday, in the frozen northern wastelands, POE dropped a bombshell, they announced a loss for the quarter of $5mm. Also their previous release appears to have been on 29 June, and only on the new field discovery, so imho they may have also got a very nasty shock on production - we'd been drip fed on this.

Funds probably can't do straight arbitrage between POE and CVN as the POE volume is too small, but perhaps they are able to use CVN as a proxy for POE, perhaps borrowing CVN and selling it instead?? Has somebody been using CVN as a proxy, with liquidity, for POE??

The connection doesn't really make sense to me, but the POE sell off does make sense to me. It appears to me we are being dragged down by POE.

Appreciate any informed responses, or corrections.

EL