Long term investors are aware that the price of oil only effects the CVN share price when it goes down. Once we are producers this annoying anomaly will change. I.E Buffalo production.
A positive result from B10 will provide one of the first upward movement catalysts.
CVN/STO also have two other targets to drill this year. Success in each individual case should see a significant increase in CVN share price.
We will all recall what happened to the share price when a well does not meet expectations. Dorado set a very high bench mark and I would imagine a similar result will occur with Pavo and Apus if they are not up to Dorado's standard.
That is the risk you take with oil exploration stocks.
The share price will go up and down for the next few months pending these new wells. Great for day traders to make a living.
Holders who are patient may see a windfall later in the year. The real prize however is still Buffalo Production first up followed by Dorado production a few years down the track.
I have been a free carried holder far too long to give up now.
Good things are coming for CVN holders.
CVN Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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