practisingaccountant (and RELAYER).
The disconnect between CVN and POE started in December and manifested itelf for all to see about 5/1, in Canada.
The gulf is so large now that Brett 68 (rightly) commented that the partnerships dominant partner and Operator in control of drilling had put on so much mileage on us that you would wonder if they might cease to have our interests to the fore vis a vis their own Thai interests that we dont share in(or something like that).
POE was at $2 all through December and their December tax loss selling.
Picked as a 2012 star through Dec. the stock rose to $2.70ish about 5/1.At the time of their 23/1 Thai Report that is where it was at.
It then exploded north of $3;since then to north of $4.
CVN didnt move a mucle on 23/1 after our Thai Report. POEs L53 discovery is phenomonel by Thai standards. Over 1000 bopd from 1 of 6 HCB sandstone layers.
POE also has its Indonesian punt going,as it has had for about 3 years. It has cost them plenty so far but the treasure they are chasing is so valuable that just one succesful(deep) well could be "company changing"(Jeff Chisholms words,issued more than once.
Any connection between POE and CVNs SPs is now but a memory.If the partnership pulls up it sox POE will get 60% of the reversal. Our L53 could be our L20/50(not shared with POE),or even Phoenix.
CVN got from 8.6 to 10 plus from the improvement to the Thai licences that we share with POE.
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Price($) | Vol. | No. |
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