CVN 0.00% 16.5¢ carnarvon energy limited

D Ters exit, page-8

  1. 482 Posts.
    lightbulb Created with Sketch. 32
    Good question,
    My call is share price will drop back to early to mid 50's for the next few weeks, until further drilling results stimulate Share Price again.
    A great announcement means a great day to off load your holding and then pick up additional shares over the next few weeks at a lower price.
    I'm guessing a higher floor price than the past month though.
    We don't have enough cash at bank to go production (ATM), so I imagine a capital raising will be on the cards. So that will be a downward catalyst for the SP. Now I would hope that the "Mum's and Dad's" get the benefit of being able to increase their holding at reduced prices, however with such spectacular results I imagine Insto's will be lining up to get involved, so a substantial placement may be quicker and easier to arrange.
    I think the really smart people would have already sold their holding today, and will sit out for a couple of weeks to buy back in in the mid to low 50's.
    GLTAH!
 
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