lack of update

I am very puzzled now there has been no announcement in combination with the recent share price rise. They were due to have tested the 2 volcanics and the sandstone development, and also had repeatedly claimed 3000 bopd by year end. On the one hand I would have thought they had a legal obligation to inform the market if there had been any substantial developments other than things progressing as indicated in their updates. But in my 3+ year history with CVN, any good news has come to the market very fast, and only the bad news is held on to until the last possible moment.

Now I could understand if it was just one set of test results, but all 3 current drilling programs? Add to this the recent 60% run on share price and it seems like they are setting them selves up for lack of disclosure if the news is good. The implied valuation of their 40% share of the Thai assets is 100% dependent on the results of this drilling, if they fail to deliver here then there is not enough production to deliver a profit to justify selling those assets.

I am surprised no one has called them over the last week to see what the dang is going on? If I was not so tired from my late flights back from holiday I would stay awake long enough to call myself.

My sentiment would be buy based on both a value play and positive news due, and also good technicals at the moment. However it seems like management is still playing games with us regarding announcements, or there is something going on in the background with the new operator... Either way I don't like having to deal with that sort of thing for a long term hold.