CVN 0.00% 14.5¢ carnarvon energy limited

Well at last the quarterly production report provides some...

  1. 661 Posts.
    lightbulb Created with Sketch. 69
    Well at last the quarterly production report provides some clarity, although I have no idea why they took so long to release information on the shut in production and the delays in well testing.

    So our interpretation of the delays was on the ball, but not the partial return of shut in production, currently 475 bopd according to the quarterly. The current overall production is also given as 1700 bopd, which implies that without the the returned shut in production would only be 1700-475 = 1225. This does not seem probable and a second calculation using their peak production of 2000 bopd based on 675 bopd initial flush production implies 1325 bopd from the remainder, still quite low. A final calculation based on reported monthly production (from Dep. Energy since value not provided by CVN).
    (1442 bopd * 31 days) = 44702 bbls total.
    (475 bopd * 5 days) = 2375 bbls new from shut in.
    The difference is 42327 bbls / 31 days = 1365 bopd.

    So we have various figures showing that the base production before their targeted increases, seems to be a bit below 1400 bopd, but still in line with the last few months. This is good to see that their work over program appears to have stabilised production. With the prospect of more shut in production returning, and fairly certain 800 bopd minimum from the sandstone, gives 2500 bopd. Allbeit on an uncertain time frame now since no information on the delay time was given. The volcanic wells look more uncertain but with potentially higher flow rates, at least 2 wells indicate oil presence.
 
watchlist Created with Sketch. Add CVN (ASX) to my watchlist
(20min delay)
Last
14.5¢
Change
0.000(0.00%)
Mkt cap ! $259.4M
Open High Low Value Volume
15.0¢ 15.0¢ 14.5¢ $151.0K 1.023M

Buyers (Bids)

No. Vol. Price($)
12 1313406 14.5¢
 

Sellers (Offers)

Price($) Vol. No.
15.0¢ 1004797 12
View Market Depth
Last trade - 16.10pm 17/09/2024 (20 minute delay) ?
CVN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.