Looking back at those two most recent announcements: They basically confirmed that all is well at Phoenix, with results consistent with their expectations; and the drill at Dorado is still in pay-dirt, digging its way through the layers that so far are bearing oil and gas.
I took the opportunity today to accumulate more at $0.45 per share. At a Market Cap of $535m, less $60m Cash with a residual value of $475m, that attributes a value of $158m each to Dorado, Phoenix and Buffalo.
That is seriously cheap. If the price spikes again tomorrow, anyone picking up shares at below 0.50 are laughing.
Looking back at those two most recent announcements: They...
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Last
15.0¢ |
Change
-0.005(3.23%) |
Mkt cap ! $268.3M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.5¢ | 14.5¢ | $378.0K | 2.520M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 102702 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 707662 | 12 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| CVN (ASX) Chart |