But who can really predict what the O&G investment market will do? There are so many variables especially with political ramifications within the worlds largest producing countries. Like you SS, I still have faith that we will see a substantial rise in CVN's sp, but likely not until after PS3 results, and/or Dorado results are in ( and successful results at that) and most posters I'm sure, think the same.
Subject to CVN Board's intentions for the company as to whether they wish to remain a dedicated explorer or, look to returning to being a producer, I think a sale of Phoenix discovery blocks for a significant wedge of cash, is probably most likely outcome which would enable CVN to go forward with its other assets. What I really like though, is the fact that CVN retained its gas selling rights to its share of Phoenix which must be an attraction to possible other suitors should Q wish to remain at 80% (SS such as your Fortescue scenario) Cheers.
CVN Price at posting:
8.7¢ Sentiment: None Disclosure: Held
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