This appears to be a major discovery.
Maybe another well or two will be needed as well as a reinterpretation of the seismic , to delineate the structure and calculate reserve estimates.
It will become clear that Carnarvon will need lots, and I mean lots of cash for appraisal . This is before
development plans and budgets are estimated.
Development of this type will take , at a minimum , several years,...maybe four , depending on what infrastructure configuration they require.
It becomes even clearer that , Carnarvon will need to raise a lot of money.
This is where the usual suspects rise up out of the swamp and start shorting the stock.
Bottom line is that this is probably a great discovery , however, it will be a roller coaster ride for CVN shareholders.
Most money will be made by having a core holding and sitting on it , as well as a trading block to take advantage of highs and lows.
Good luck to all.
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Mkt cap ! $286.2M |
Open | High | Low | Value | Volume |
16.0¢ | 16.0¢ | 16.0¢ | $4K | 25K |
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No. | Vol. | Price($) |
---|---|---|
13 | 256040 | 15.5¢ |
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Price($) | Vol. | No. |
---|---|---|
16.0¢ | 559461 | 5 |
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14 | 356040 | 0.155 |
13 | 1684677 | 0.150 |
25 | 679414 | 0.145 |
16 | 749859 | 0.140 |
4 | 528350 | 0.135 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 559461 | 5 |
0.165 | 213709 | 7 |
0.170 | 562738 | 13 |
0.175 | 587975 | 10 |
0.180 | 602975 | 9 |
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