daytrades may 26 morning ..., page-77

Volume is building in CVN,

Macquarie report:

Right now a good buy in these low 20c level.

Carnarvon Petroleum, CVN

Initiating with an Outperform rating and a A$0.50/sh target
Our CVN price target of A$0.50/sh is set at a 23% discount to our NAV of A$0.65/sh and offers over 100% upside to the current share price. Our valuation is underpinned by CVN's 40% interest in the developed and producing L44/43 and L33/43 concessions onshore Thailand and the near-field 3P reserves upside. The 2P reserves alone constitute over 70% of risked NAV.