Yep. You can't just value CVN on cash in the bank and value of the discovery at Phoenix South-1 alone. Even IF Phoenix South-1 is not commercial for whatever reason, it has significantly derisked the block and other permits in the surrounding areas also held by CVN. This is why Apache has quickly farmed in to surrounding permits and committed to further drilling.
This is also why CVN have said they are excited about holding 20,000 square KM's in the surrounding areas.
There is now increased value in the surrounding blocks which is recognised by Apache who have committed to further drilling which provides some downside protection.
Yep. You can't just value CVN on cash in the bank and value of...
Add CVN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
16.0¢ |
Change
-0.005(3.03%) |
Mkt cap ! $295.1M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 16.8¢ | 16.0¢ | $667.8K | 4.093M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 610534 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 1429499 | 15 |
View Market Depth
| Last trade - 12.45pm 22/07/2024 (20 minute delay) ? |
| CVN (ASX) Chart |