Hi Folks,
I am no geologist, but I thought todays announcement hugely reduced the risk on this investment. Therefore a little suprised to see the retreat to 16 cents.
With just about all the other good stories I had been watching running away in front of me, and sitting on a heap of nickel proceeds, what was I to do? I topped up CVN again, by 25% at 16 cents. I won't buy more, this will either be a poor/mediocre investment, or it will jump to the front of my portfolio this year.
I"d like to believe ARQ will discover oil in the Canning - but I am not sure, I'd also like to believe many of the other good stories, but where are the odds as good as on CVN having a lot of oil AND being cashflow positive very soon.
When you start a program happy with 100 bopd wells, and get 700 bopd from these same cheap wells, that is absolutely great. I hope they can get enough road tankers!
Goodluck to all the patient.
EL
ns4 stabilised rate at 686 bbld., page-14
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Last
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 15.5¢ | 16.0¢ | 15.5¢ | $326.4K | 2.069M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 1324611 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 906839 | 4 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| CVN (ASX) Chart |