I sort of like CVN too, but let’s not get carried away. The size...

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28/11/18

11:30

Post #: 36667348
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Originally posted by gottalove: ↑

The words "No" and "Brainer" spring to mind, when I think of these two stocks:

CVN (Carnarvon Petroleum)

Was going to write a few things about it, but didn't know where to start.
Bottom line is this junior oiler with a bag of cash and zero debt, has just made the 15th biggest discovery in the world(*last 4 years).
Massive 12 months coming up, as they drill holes everywhere and try and work out what to do with all their oil. They've found so much, it's getting embarrassing.

PVD (Pura Vida Energy)

Only thing that needs to be said here is this. Market cap this morning was ~$5.5 million. Cash in the bank ~$9 million.
$3.5 million of "Free Money"

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I sort of like CVN too, but let’s not get carried away. The size of the discovery is not yet known so to say it is the 15th biggest etc is not accurate. It could be bigger or it could be smaller. Next year they will be drill at least two appraisal wells on Dorado. Appraisal wells always carry some risk. Reserves are calculated on well data , not seismic.
Bottom line is at these prices it is a risk worth taking. STO also appears undervalued , but probably the most undervalued stock I can find is BRU which has a large area of the Laurel formation (wet gas ) in the onshore Canning, plus current oil production from the Ungani field, plus some very attractive exploration targets, plus plenty of cash, and......they are now allowed to frack.
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