Proactive Investors: CVN underappreciated

Another good write up, this time coming in from Proactive Investors summary of the Hartley report.

A few snippets from the article are below:

Hartleys is of the view that Carnarvon’s potential exposure to a recovering oil price is possibly underappreciated.


It believes Phoenix South is likely to have a very high liquids content, and the liquids component is so high, the liquids cash flow alone could pay for the development.


The broker also believes there is the potential for corporate activity given the group is now one of the largest independent owners of uncontracted gas in Western Australia.


Acquisition activity isn’t new to operators in that region. AWE Ltd (ASX:AWE) attracted takeover interest in 2017 and Hartleys juxtaposed whether 2018 will see the losing bidders on AWE, or even another third party, come to the table.

http://static2.*.co.uk/thumbs/upload/News/Image/2018_02/757z468_1517547376_Capture.JPG---cvn.JPG
Hartleys' target price implies a premium of circa 100% to the current share price


http://www.*.co.uk/companies/news/1...ce-underappreciated-says-hartleys-191044.html