Just noticed a new broker report from Hartleys on the CVN...

Just noticed a new broker report from Hartleys on the CVN website. This could have something to do with current buying.

"The recent operational issues and production downgrade has resulted in
uncertainty regarding future production at the Company’s Thailand fields and a
consequent decline in share price. We believe that the market has overreacted to the short-term production issues and has not factored in the value from the result at the high impact Bo Rang prospect, which we now regard as a commercial success. Appraisal drilling over the coming weeks should allow
better estimation of just how much it may be worth. The Company has also achieved additional positive results at L44-W and in a shallow sandstone reservoir at Na Sanun East. Both of these successes are yet to be fully
quantified; however, do not appear to be factored in to the current share price. The Company has many large prospects on its oil-saturated acreage, which could more than double the existing reserve position. We remain confident of
further exploration success."

It also explains in detail the Thai tax regime.
A good read.

http://www.carnarvonpetroleum.com/docs/CVN_External_20090907.pdf

Regards,

philgrm