Management has changed in CVI (see website) and it is an oil play, having got rid of its high tech stuff a year ago, barring a debt owed to it by a dotcom (which you can write off). Company has cash, and low burn rate as it is free carried on all its wells.
The only play in CVI is the oil, and the Singaporeans own around 25% of it now after the capital injection (they are the new management). The Madura well could however be a good one, as they have hit the formation they were seeking and have hydrocarbon shows.
Half the stock trades on NASDAQ OTCBB as well, so Aussie mkt cap is less than you think, in addition you still have the blocks of stock held by MMC and the Singaporeans, so the float in Aussie is pretty small.
Not one for your daytrader penny scalpers but certainly one to watch if they hit oil in their current well.
CVI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
