SCD,I whole heartedly agree, it’s a great company with a great...

SCD,

I whole heartedly agree, it’s a great company with a great future.
My problem doesn’t lie with CVN, it lies with the market and it’s pressure on this great stock.
It CANNOT, and WILL NOT sustain a SP worthy of it’s results in this environment.

I see another low of sub 30 before the next ann – due to the delay an insecurity in this US bailout, with a yoyo around this level for a while to come..

The JV have announced a sustained average target of 15k bopd for end year. This seems a sweet spot between income, tax and cash flow.
I mentioned some time ago that they might cap production at a level which works best for tax, and prolong income over time. That also gives a secondary effect of giving investors confidence of a long term view. They will increase reserves by sustaining the drilling of development wells into NSE, this will boost the SP on the stock alone. Reserve, great cash flow and upside everywhere.. Offsetting the exploration wells to counter negative reaction to dusters – they have this thing sorted. No-one notices a duster in an ann with flow rates attached.

I know this company – and SP fluctuation inside out, I’ve watched it every day for over 18 months, charted it like everyone else and studied it’s behaviour.

I see two props have been placed. If someone actually wanted that much stock, at that price they wouldn’t place the order now – they would just wait to simply pick up the panic sellers who bought yesterday. They are sitting there while they offload what they want, once they have been pulled – imo there will be some consolidation in the mid 30’s.

Let’s see how it plays out. Imo - SP won’t run for another 8-10 days on it’s own merits. If the DOW turns then yeah – she’ll go a little green – I don’t care what the charts say, it’s an announcement / economy driven stock.. Lucky it has fantastic fundies..

It’s only my 2c (and gut feeling) tho..