poo, page-3

Neo l worked it out to 40 mil AU is cvn share after all taxes and everything so this values cvn at a straight p/e of >8.9 which is a fair price on straight earnings. But as with all Oil a fair bit of the SP value is potential of fields reserves and future prospects. So looking at this model its very under priced. the average P/E for oil companies is 16.34 and you companies of similar size ARQ p/e 19 eps of 4 cents and then compare to Tap oil P/E 115 with eps of 2.3 cents. Now if you look at CVN P/E of 9 and based on my figures an EPS of 6.5 cents. If you value cvn at the average P/e for Oil producer you come up with a full valuation of $1.00 Au so when the next quarterly comes out with an updated reseves figures it could push cvn up to that figure and that is discounting any other successful well brought on line in the next couple of months. So basically cvn is trading at a near 50% discount to similar sized oil companies or the market average, no wonder those who have a piece and understand the story hold on to cvn.