As I write this the stockbroking analysts who cover CVN will be...

As I write this the stockbroking analysts who cover CVN will be revising their valuation post the Pavo 1 result.
Euroz hartley valued CVN at 76 cents in January when the oil price was in the $US 70-80 range'
They valued Dorado at 49 cents per share which implies a valuation of about 1.5 cents for every million barrels of oil in situ.
We now have Pavo1 with an estimated 12 million barrels as CVNs share, and Pavo 2 and Apus to come with reservoir estimates of 40 million and 235 million barrels respectively and a COS of 60%. Simple maths suggest that this will add 84 cents to the Euroz valuation if you put aside the major rise in the oil price that has occurred since the previous valuation.
I expect that when Euroz rerun their numbers their valuation will rise to about $1,50 per share which is 4 times the current share price!
The reason for this massive difference is that the big Super funds and instos are all out of the oil and gas play market because of their fear of being targeted by climate change activists. The inevitable outcome of this situation is that somebody (most likely a foreign oil and gas player) will take over CVN at a major discount