Considering the drop in oil CVN is holding up pretty well. To me...

Considering the drop in oil CVN is holding up pretty well.
To me it looks like a base at these prices has been solid at these levels.
There doesn't seem to be a concerted push as has been happening with non producers and small cap producers to put much down pressure on CVN at this time.
Companies like FAR, OEL and SEA are suffering much more due to well failures and minimal cash or too much debt.
CVN on the other hand have probably enough cash to get through a couple of appraisals at Dorado and if we get through that with any success then one would expect an uplift in the SP.
Farm outs and Buffalo with also STO finalising its appraisal program for Dorado will also be a catalyst for SP appreciation which I suspect what Adrian is hinting at when he says multiple news events before the end of the year.

Dorado and surrounding areas are just too big for investors to dump CVN as has been happening to the above mentioned.
We could be talking about massive upgrades after appraisal in oil found not to mention what the 3D will tell us about the other monster we might have.
We are also in shallow water off the WA coast so drilling will not cost a lot of money.
So CVN has too much going for it IMO to worry about any selling pressure and if there is which might be due to oil falling more then posters will just look at CVN as a buying opportunity you would think.