CVN - Carnarvon Energy

[Miner]

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What's the message between capitalised words???

 

[Ferret]

This sounds bad.

12m gross oil column. The revised seismic indicated 50 to 60m oil column.

The revised seismic seems to have got it wrong. Maybe the field isn't economic.

 

[Miner]

This sounds bad.

12m gross oil column. The revised seismic indicated 50 to 60m oil column.

The revised seismic seems to have got it wrong. Maybe the field isn't economic.

@Ferret
Yes, that did sound bad. The gross column was too low to support the economics.
Will see it tomorrow for sure.
Personally, I have encashed my 50 pc of CVN holding, so paper impact will be 50% less tomorrow (I hope)
Have a good night.

 

[Miner]

Market behaved as predicted but probably somewhat better than i was speculating - only 12% fall compared to some of the high rises happened not long ago (in anticipation of drilling outcome)

 

[BlindSquirrel]

I was hesitant to load up at 23c... I'm already overinvested in this one. It will be fine, eventually!!

 

[greggles]

Game changer for CVN with the announcement this morning of a material oil discovery at the Pavo-1 well. Although CVN only have 30% to Santos' 70%, with oil prices still above US$100 a barrel it's the perfect time for a discovery like this. As a small cap stock the CVN share price will benefit from this much more than STO.

 

[Miner]

Game changer for CVN with the announcement this morning of a material oil discovery at the Pavo-1 well. Although CVN only have 30% to Santos' 70%, with oil prices still above US$100 a barrel it's the perfect time for a discovery like this. As a small cap stock the CVN share price will benefit from this much more than STO.

View attachment 139365

Yes.
The market opened with 25 pc increase on CVN but STO with 80 pc holding of this discovery, did not blink.
Disclaimer- Holder of CVN and STO

 

[BlindSquirrel]

 

[UMike]

Yes.
The market opened with 25 pc increase on CVN but STO with 80 pc holding of this discovery, did not blink.
Disclaimer- Holder of CVN and STO

Yea I was still dissecting the news and cursing myself for not buying more @21.5.

Back down to 37c with seller outnumbering buyers 2:1.

Still hold both as well.
Edit: (Santos 70 per cent and operator, Carnarvon Energy 30 per cent).

Dunno how to buy or sell (anything) at the moment. Funny times????

 

[Miner]

I was hesitant to load up at 23c... I'm already overinvested in this one. It will be fine, eventually!!

How about you invested at 23 cents ??

 

[BlindSquirrel]

my average is about 30c (the last top up was around 45c) so I'm pretty happy with it all

 

[Dona Ferentes]

“With the global oil and gas markets seeing increased volatility, low-CO2 oil and gas resources at Dorado and Pavo add significantly to Australia’s national energy security,” said Santos’ chief executive, Kevin Gallagher.

“The Pavo-1 success is expected to support a potential low-cost tie-back to the first phase of the proposed Dorado development, with Pavo north having an estimated breakeven cost of less than $US10 per barrel.”

excited .... just a bit

 

[Miner]

Trading Halt for capital raise.
High energy market. Recent rise on CVN price. Good discovery.
Not knowing the CR price, i see this is perfect time for CVN management to get a decent +30 cents price and oversubbscription of the CR.

 

[Ferret]

Looks like the capital raise is for the instos only. That sucks...

 

[Miner]

Looks like the capital raise is for the instos only. That sucks...

Yes. It sucks. $70 M only to Instos at 30 cents. Shareholders are just to be considered when they have no base. Once they find good base then shareholders are ridiculed under the legal coverage - no shareholders approval is required.

https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02503436-561L6R3LBDOABSB9IH0V1OHVG8/pdf?access_token=00072kDJ4WQl3deHjPcMP9dVMTHn

 

[Miner]

Apps 1 drill result. The lack of commercial outcome from an excellent drilling .
Would like to see how market receives this.

 

[qldfrog]

Apps 1 drill result. The lack of commercial outcome from an excellent drilling .
Would like to see how market receives this.

not good -22%, I got in at 26c lets see with oil price surging how it will end up

 

[Dona Ferentes]

Yes. It sucks. $70 M only to Instos at 30 cents. Shareholders are just to be considered when they have no base. Once they find good base then shareholders are ridiculed under the legal coverage - no shareholders approval is required.

You'd be sort of happy .... down 20% to 26c

Apus-1 wasn't quite a duster but clearly not a reservoir of commercial oil accumulation

 

[Miner]

You'd be sort of happy .... down 20% to 26c

Apus-1 wasn't quite a duster but clearly not a reservoir of commercial oil accumulation

It's a loose loose situation
I was unhappy not to get the 30 cents rights.
But now my current holding also gone down by 22 pc today

 

[Garpal Gumnut]

I've placed all me Oil bets some months ago on bigger fish and noticed some cash left beside my Oiler chips.

CVN had me anxious and I sold last year.

Any better chances now for a few lazy small ones on CVN on the morn . @Miner ?

I promise to DYOR ( Don't yelp on ruin ).

It seems all over the place (AOTP) with good and bad wells and my betters from Riverview being allocated dud shares.

BYO.

gg