CVN,bargain of issue,Quenton Cameron

Quenton Camerons latest report lists CVN as.... "bargain of the issue"..(see excerpt from his monthly newsletter below)
Not sure what this guys record is....but he makes it sound ok anyway...I hold a few btw.

Quenton Cameron
THIS ISSUE’S TOP BARGAIN
CARNARVON PETROLEUM (CVN)
It has to be Carnarvon Petroleum (CVN) again, and
the bulletin makes no apologies for that as this is
without question, the TOP BARGAIN of this, or any
other year, as far as it’s concerned. The bulletin is
very well aware of the dangers in saying things like
that but, really, it only needs just a normal amount
of good fortune for this to turn out to be quite an
exceptional recommendation. The normal amount
of good fortune needed is for the fraccing
programme planned for CVN’s Thailand oil field, to
do what it has done on similar reservoirs countless
times before and, surely, that is not too much to
expect seeing it is to be closely supervised by
acknowledged experts in the method that is to be
used. There is no “cutting edge” technology
involved here, being just normal oilfield practice
that has worked, the bulletin must repeat, on similar
reservoirs many times before, and there is no
reason in the whole wide world why it should not
work on this particular reservoir. If the expected
does happen, this procedure should first boost field
production from existing wells from the present 200
barrels a day or thereabouts, to what is hoped will
be at least 400 b/d. Immediately following these
workovers, which should start in a matter of weeks
at the longest, four development wells are to be
drilled back-to-back, with the same fraccing
procedure to be carried out on their oil reservoirs.
This is expected to get field production up to a
minimum 1,000 b/d, of which the CVN share will be
400 b/d, as early as August/September if everything
goes according to plan which does seem likely from
what the bulletin hears. It seems worth pointing out
that CVN and its partner, Pacific Tiger Energy, have
yet to drill a dry hole on this acreage. While oil
production of 400 b/d is surely unheard of for a
company with CVN’s miniscule market
capitalisation, it should be emphasised that the
break-even point for this extremely low cost oil field
is field production of just 100 b/d, after which the
net return for each company should be an
incredible $14 to $15 a barrel, and the bulletin is not
only talking UNITED STATES dollars, but also an oil
price not as inflated as it is now. The bulletin should
add it is now completely satisfied there are no
grounds whatsoever, for the bad-mouthing of
management referred to in the last issue. It also
seems worth mentioning that the chief executive, a
highly qualified petroleum engineer, has personally
invested heavily in CVN, having acquired around
three million shares in the last twelve months.

Surely, taking all these things into account, and
CVN’s pitifully low share price, this just has to be
not only the TOP BARGAIN of the year so far, but
also in the bulletin’s memory. Things, of course,
can go wrong, but is there really any reason why
they should? This looks so much of a “sure thing”
that it’s worrying, but at least there’s not too long to
wait to see if this is one “sure thing” that actually
comes off.