CVN has a great asset in Dorado, but unfortunately, as with most other Australian oil companies that have been in this situation, shareholders will not benefit.
The company has enough cash to go from from A to B, but it needs more to be able to go from B, to C to D and CVN doesn't have the funds to be able to put Dorado in production.
It is simple as that.
The current price of oil to CVN is also meaningless. IIRC the 'plan' is to bring Dorado into production by 2025.
I doubt that even given the huge find at Dorado that US$25, $30 or even $40 a barrel would make the project economic.
Instead of undertaking that disaster of a capital raising a while back they should have sold part of the project which would have allowed them to retain a large ownership share, but farm out part of those costs and increase their cash holdings at the same time. The price of oil was much higher at the time and it would have allowed the company a secure future.
The only thing I see for current shareholders is more dilution and a cheaper share price - a familiar pattern for many Australian oil companies.
(And by the way, I was a shareholder in the past, got caught in the cap raising, and sold out. I do feel sorry for those who didn't.)
- Forums
- ASX - By Stock
- CVN
- CVN COVID Newsletter
CVN COVID Newsletter, page-16
-
-
- There are more pages in this discussion • 110 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CVN (ASX) to my watchlist
(20min delay)
|
|||||
Last
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $286.2M |
Open | High | Low | Value | Volume |
16.0¢ | 16.0¢ | 16.0¢ | $17.43K | 108.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 791716 | 15.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.0¢ | 641857 | 13 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 791716 | 0.155 |
19 | 1786903 | 0.150 |
26 | 635343 | 0.145 |
18 | 806379 | 0.140 |
4 | 528350 | 0.135 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 641857 | 13 |
0.165 | 532247 | 11 |
0.170 | 613874 | 15 |
0.175 | 634826 | 11 |
0.180 | 661921 | 11 |
Last trade - 11.18am 30/09/2024 (20 minute delay) ? |
Featured News
CVN (ASX) Chart |