CVN - Carnarvon Energy

i read in HC forum that a guy rang the company and spoke to the company secretary Rob Anderson and he said that results are going to be out early next week on the monday or tuesday....and for what its worth...he said he sounded quite cheery about it all....

anyone got any ideas on why such a frequent amount of trades with low volumes that would cost allmost the same in broker fees???

Last 10 Trades
Time Price Quantity
02:12:24 PM 0.585 109
02:06:28 PM 0.585 100
02:02:00 PM 0.585 5,000
02:00:21 PM 0.585 98
01:59:01 PM 0.580 800
01:59:01 PM 0.580 2,400
01:54:01 PM 0.585 100
01:48:56 PM 0.585 87
01:44:58 PM 0.585 95
01:41:06 PM 0.585 1,499

Perhaps this is a larger order broken up??

I have CVN on my watch list, is this one a potential "break out" I wonder?

Inore,

I've been watching that for a few days. It would be a broker buying on behalf of a larger client. An automated program would just buy random small parcels at market (with maybe a few conditions). The client would pay a set overall brokerage fee rather than for each transaction. The idea is that many small parcels can be overlooked, but if an order for say 1,000,000 goes into the lines it will affect the price. Hence, the bot can fill the order at a lower average price. It would be especially useful in a period like now where there are many willing sellers. However, the fact that this buying is occurring is, IMO, a good sign. BTW, confirmed with Ted Jacobsen that an announcement should be either today or tomorrow. Looks like tomorrow now.

Thanks for that explanation MS. I had a similar experience trying to sell 5000 DOM at a certain price and someone bought 1 share! Then half hour later another trade went through for 1 share!
It's annoying to have partially filled orders hanging around so I changed the order to at market and flicked the rest.

Perhaps this is their reasoning also?
Take a few nibbles at sell orders and get them to dump the rest at market? Worked on me anyway.

Oh well, happy to snaffle another parcel of CVN at 57 today.

Another hit, not as spectacular as their last few but it's still around 6-7% increase on their current production....the success rate is fantastic...and i beleive the increased depth of structures at which they have found oil will lead to an even bigger oil-reserve figure.



Pan Orient Energy Corp.-Thailand: NS5-D1 Tests at 240-440 bopd
06:00 EST Monday, November 19, 2007



CALGARY, ALBERTA--(Marketwire - Nov. 19, 2007) - Pan Orient Energy Corp. (TSX VENTUREOE) -

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

NS5-D1 Well (60% WI & Operator)

Pan Orient Energy Corp.'s recently drilled Na Sanun East ("NSE") oil field well NS5-D1 has been flowing at rates of between 240 and 440 barrels per day ("bopd") of 35 degree API crude in addition to a BS&W currently averaging 4-6%. The well is on free flow through only the casing on a choke setting of 17/64 inch, and is currently shut-in on the tubing. Flowing casing head pressure is 60-120 psi and shut in tubing head pressure is 40 psi. The well will be put on beam pump over the next few days at which time it will be flowed through both the tubing and casing.

NS5-D1 was drilled within the central fault compartment of the NSE oil field, approximately 400 meters south of L44-H. The well penetrated the main volcanic reservoir in the structurally lowest position of any well drilled to date and reached total depth approximately 8 meters deeper than any previous well, below initially interpreted structural closure.

Current total field production capacity is now greater than 6,000 bopd with average deliveries to the refinery of over 5,000 bopd, the difference being the capacity of the current number of available trucks to deliver oil to the refinery. Trucking capacity is anticipated to increase to 5,800 bopd by month end. Negotiations are currently underway to bring on a third loading bay with 3,000 bopd capacity at the existing refinery and for a new sales contract at a second refinery, for an additional 6,000 bopd capacity, which would be subject to government approval of the Na Sanun East production license.

All other NSE wells continue to perform with restricted oil rates and very low water cuts.

L44H-D1 (60% WI & Operator)

The Aztec #14 rig is currently setting casing just above target on deviated well L44H-D1, located within the central fault compartment of the NSE structural closure with a subsurface target location approximately 700 meters south of L44-H. Total depth is anticipated to be reached within 5 days. This is the third well drilled into NSE's central fault compartment.

NS6-D1A Sidetrack (60% WI & Operator)

The Aztec #7 rig is currently setting casing just above target on deviated well NS6-D1A, located within the south fault compartment of the NSE structural closure approximately 400 meters north of the original POE-9 discovery well. Total depth is anticipated to be reached within 5 days. This is the fifth well drilled into NSE's southern fault compartment.

Not an amazing drill result...

It is always the same story when expect too much :-(

We won't touch the 70 with kind of news unfortunately.

With the sheep herd overreacting, anyone got some spare change to send my way and I'll start buying?

MS+Tradesim said:

With the sheep herd overreacting, anyone got some spare change to send my way and I'll start buying?

Click to expand...

Hi all,
Is the report today bad, or just below expectation.
It's 0.53 now.
I wonder if it is a good time to pick up more, considering today also the ASX dropped because of USA.

imaginator said:

Hi all,
Is the report today bad, or just below expectation.
It's 0.53 now.
I wonder if it is a good time to pick up more, considering today also the ASX dropped because of USA.

Click to expand...

It is below expectations, alot of investors jumped on board expecting 2,000+ bpd, coupled with ST investors selling out the market taking a hit in general isnt helping CVN hold up. Apart from that more oil is very good news. CVN just adding to their net barrels per day. However, with storage and transportation being stretched to the limits, physically CVN cannot produce any more oil.
Choke setting of 17/64 inch, with fairly low pressure at the head, dont think there is much upside potential to produce past 400pbd at this well as some are claiming in HC.
Results from NS6-D1A side track and L44H-D1 shall be available in 5 days, and CVN looking into resolving their storage issues right now.
If you are going to sell, sell today, I have my bid in at 52c.
Cheers.

Below expectation - but every well, good or bad or mediocre, adds to their knowledge of the area. Two more drilling now. 30 to come next year. High strike rate. Well ahead of targeted production schedule. All cashed up and considering a 3rd rig. It's my opinion that there is heaps of upside to come.

But only you know if buying this stock now will fit your trading/investing objectives.

wipz said:

Its not great, but it is very good news. CVN just adding to their net barrels per day. However, with storage and transportation being stretched to the limits, physically CVN cannot produce any more oil.
Results from NS6-D1A side track and L44H-D1 shall be available in 5 days, and CVN looking into resolving their storage issues right now.
If you are going to sell, sell today, I have my bid in at 52c.
Cheers.

Click to expand...

WIPz,
why are you telling people to sell when u are trying to buy at 52c?
hmmmnmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

Why would it be bad to pocket 10's-100's of barrels of oil a day extra to add to your production?, the long term trend will undoubtedly be up and the traders will come and go trying to pick the announcement that's going to make them rich, when it doesn't pan out they bail only to have to have another go next time which leads to a bit of volatility. Everyone wants a miracle result to make 25% on, but IMO this one's just going to keep humming onward and upward.

imaginator said:

WIPz,
why are you telling people to sell when u are trying to buy at 52c?
hmmmnmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

Click to expand...

Im just saying, if your going to be a sheep then you're falling behind mate
wipz the shepard will be here to pick up any cheap scraps

doogie_goes_off said:

Why would it be bad to pocket 10's-100's of barrels of oil a day extra to add to your production?, the long term trend will undoubtedly be up and the traders will come and go trying to pick the announcement that's going to make them rich, when it doesn't pan out they bail only to have to have another go next time which leads to a bit of volatility. Everyone wants a miracle result to make 25% on, but IMO this one's just going to keep humming onward and upward.

Click to expand...

It's not bad but the reality is the share market is massively influenced by sentiment. All the short-term traders were expecting more so they bid it up in the first place, now it's not what they were expecting so they flog it down to get out. Very silly behaviour because stocks like this make the long-term holders far happier than scalping cents off the volatility.

MS+Tradesim said:

It's not bad but the reality is the share market is massively influenced by sentiment. All the short-term traders were expecting more so they bid it up in the first place, now it's not what they were expecting so they flog it down to get out. Very silly behaviour because stocks like this make the long-term holders far happier than scalping cents off the volatility.

Click to expand...

If you say NS5-D1 flows 340bopd which is between the averaged 240-440bopd @ US$94.15 barrel that equals extra income of US$32011.00 per day, which is far from a market blow. The other very interesting point repeated in the announcement and "INORE" in his post above was the increased depth of the strike. This will have major implications on the reserve when calculations are done. Flow rates are one thing but reserves are the true indicator of worth and its clear CVN and POE are a long way from knowing the limitations of this oil fields potential.

Now how to make hay while the market panics over the continuing fallout from the subprime mortgage dramas that are happening in the USA.

There is nothing wrong with 300bopd!

there a two results due within days of the AGM on the 26th Nov... (actually - near on TO the day! )

With so much upside potential thru to Chrissy and reserves to be made public in December, could be a great New Year.

POE's Jeff Chisholm mentioned a while ago they believe it's the second largest oil field in Thai, I wonder if they have proof of that??

They are upping storage/production facilities in the short term to 50% greater than current, so must be fairly confident..

Holding tight, nevertheless I really am mystified by the slaughter, now down 22% from the high and I see no reason except lemming behaviour.

1234,

You said reserves are to be announced in December. I've been looking through anns. trying to find that. Can you confirm where you heard that please?

And agreed, last ann. was actually very positive with storage and sales upgrades to come.

MS+Tradesim said:

1234,

You said reserves are to be announced in December. I've been looking through anns. trying to find that. Can you confirm where you heard that please?

And agreed, last ann. was actually very positive with storage and sales upgrades to come.

Click to expand...

From memory i think it was on the interview with POE CEO Jeff Chisholm
The title of the video is "Commodities Report [11-02-07 11:30 AM ET]" :
http://www.bnn.ca/
I've just tried to have another look at it and it seems that you cannot access videos that are over a week old so maybe this one is unavailable now??

Anyways, looking at the market depth on this one is quite daunting. Alot of investors getting out . I am considering buying back in as CVN have solid fundamentals, the question is at what price will she find solid support... 48c?? 50c seems to be solid at the moment