Australian (ASX) Stock Market Forum

CVN - Carnarvon Energy

The CVN chart is looking interesting. I like rounded bottoms at the Ross Island Hotel.

Screenshot 2023-07-23 at 5.09.13 pm.png
Well, from the Quarterly Report App. 5b CVN has 40 quarters of cash available for activities.

40/4 = 10 years of CVN availability for the ASF monthly Competition.

10 X 12 = 120 Months.

I therefore seek in excess of 100 ASF members to volunteer, as @Sean K is this month, to carry CVN in the monthly competition.

The only stock never to move on an announcement.

Carnarvon Energy Limited (Carnarvon) (ASX:CVN) requests the implementation of a trading halt in its
securities effective immediately.
Carnarvon provides the following information in relation to its request for the purposes of ASX Listing Rule 17.1:
  1. (a) the trading halt is requested pending an announcement in relation to the transaction with OPIC Australia Pty Limited, a wholly owned subsidiary of CPC Corporation, Taiwan, Taiwan’s national oil and gas company;
  2. (b) Carnarvon requests that the trading halt end on the earlier of the commencement of normal trading on 28 July 2023, or when the anticipated announcement referred to in (a) above is released to the market; and
  3. (c) Carnarvon is not aware of any reason why the trading halt should not be granted, nor of any other information necessary to inform the market about the trading halt.
Please contact Alex Doering, Joint Company Secretary, or myself should you require any further information.
Yours sincerely
Gavan Sproule
General Counsel and Joint Company Secretary Carnarvon Energy Limited

Bedout divestment update 27 July 2023
Highlights 
All conditions for the divestment of a 10% interest in Carnarvon’s Bedout assets are now satisfied 
Completion of the transaction to occur prior to the end of August 
Following completion, Carnarvon to hold cash of ~A$178 million, and an entitlement to a further ~A$129 million contribution towards Carnarvon’s share of the Dorado development costs

..... Much Ado about planned normal.
This perennial underdog looks like it's getting its act together and it's starting to show on the price chart.

View attachment 161451

I think it may be ready for the monthly ASF comp.
I do hope you are correct @peter2 ..

Apart from much electronic scrip I may have some paper in this little dawg.

Perhaps a gong in any case to CVN Directors for the most consistently picked stock in the ASF Competition.

From The Australian ...

8:30PM SEPTEMBER 13, 2023
Australian listed energy groups may be getting busy on the acquisitions front, with talk of interest in Woodside Energy’s Pyrenees and Macedon oil and gas projects up for sale through Morgan Stanley.
DataRoom understands bids for the assets, which are expected to sell for between $500m and $1bn, are due next month.
Among the groups set to put in an offer are Carnarvon Energy. Carnarvon, the joint owner of the Dorado project in Western Australia with Santos, has a market value of $270m but now has $175m of cash on its balance sheet which it is keen to put to work.
Canarvon recently finalised a deal with Taiwan’s CPC Corp to sell a 10 per cent stake in its Dorado and Pavo projects, about 140km off the cost of Port Hedland, for an all-up payment of $US146m.
Other groups believed to be keen are Beach Energy and Cooper Energy. However, the talk is that both need funding partners and are in the market hunting for a joint venture suitor.
And sourcing funding, particularly debt, for oil and gas is never an easy assignment as investors favour renewable energy opportunities amid concerns over climate change impacts.
The $300m Cooper Energy has $81m of net debt, and some say that it needs its $77m of cash for its own growth assets. Yet when Eni’s Australian oil and gas portfolio was on the market in 2020, it launched a bid with Morgan Stanley Infrastructure Partners, so perhaps it rekindles that relationship.

CVN has been pored over, dissected, spruiked and charted since 2006, shortly after ASF started.

Just myself poring over the first few pages , @yogi-in-oz started the thread, and a few days later @Sean K marched in, with a chart.

I first appeared on the 2nd page. This thread is now 80 pages, Remarkably nothing has changed much apart from huge, and I mean huge projections of oil and gas discovered off the WA coast without sufficient funds or influence themselves to get the stuff out of the ground, in to LNG big bottles and eventually on to the chilblain winter toes of the good burghers of Westphalia or some other dump in Europe.

It has been a consistently entered stock in the monthly Comp, those poor, poor mugs expecting it to go from 15c to $1.85 for them.

October 23 may be it's month.

Final blow on trumpet, last slug out of moonshine bottle clutched in other hand, throws both in air and slips dejectedly offstage left.