CVI seems to have become a bit of a joke of a stock. Regardless of the so called successes we are having and the supposed future we are building, there are too many ifs and buts popping up all over the place.
Clearly MS and co. did not manage to secure what he set out to secure in Feb, that being the Kwanza basin leases signed and contracted. Instead that's almost been pushed on the backburner and replaced by a bigger pie - that of 4 offshore blocks. Which is great in principle, but who knows how many road blocks and hurdles until (or if) that is finalised. Nothing has been said regarding why we have no contracts and no signatures. Instead there has been an attempt to cover up a so-called falling through by painting an even rosier picture.
Yes, I can see the forest from the trees, and I can see the huge potential this has. But no favours are being done with the vague announcements with no real details, followed closely by more App 3B's.
Tonight I will strongly consider turning at least half of my long term holdings into trading stock. Yes, this might hurt me longer term, but long term seems to be going from a 3 month outlook to an indefinite timeframe.
After all, if you can't beat them, join them.
Disappointingly pondering away.....
Cheers
CVI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
