• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

CVN - Carnarvon Petroleum

Discussion in 'Stocks 0-H' started by yogi-in-oz, Jun 6, 2006.

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

  1. Rob 17

    Rob 17

    Posts:
    86
    Likes Received:
    0
    Joined:
    Oct 29, 2007
  2. Riles

    Riles

    Posts:
    88
    Likes Received:
    0
    Joined:
    Jan 20, 2006
    Very nice indeed. Another 2650 bopd puts them well over their target of 15000 (total for JV) now and still more production wells to come from this area.

    What are they going to do with all this oil?? They can only get 15000 bopd to the refinery so they may have to cut back on some production at this rate.
    A nice position to be in! 2P reserves getting bolstered which the analysts will like.

    Heaps of cash flowing in to CVN now. Exploration wells commencing soon in Si Thep and Bo Rang and Wichian Buri with high impact/large upside potential.

    Jeff Chisholm (POE CEO) sounds very confident of proving up these other areas.Could be in for another exciting year ahead - with the benefit of all that income already flowing in daily. And yet the SP is the same as it was this time last year when they only had about 400 bopd!
     
  3. MS+Tradesim

    MS+Tradesim

    Posts:
    1,130
    Likes Received:
    0
    Joined:
    Jun 14, 2007
    Yep, it's a great position for CVN to be in. No debt, rising production, rising cash at bank (even with falling POO - lol, no pun intended!). Unfortunately, the reality is that rationality is not a feature of the markets and while the fear and panic grip markets worldwide, CVN's sp does not even remotely reflect intrinisc value.
     
  4. JTLP

    JTLP

    Posts:
    1,346
    Likes Received:
    45
    Joined:
    Nov 27, 2007
    Fantastic news...CVN had me depressed at such low prices...but wow...she is just one hot hot hot beast. We have now achieved the goals of production...perhaps they are thinking of expanding capacity somehow???

    Maybe now CVN has proved that they can meet/exceed targets and expectations...we might get some stability on the SP and even an insto or 2 *that will hang around!*

    Also good news should be that as this well is out of the other area...taxes will not be huge...bonus!

    Lots of drilling and testing left for 2008 as well as Australian projects and hopefully some EXPANSIONS!

    More comfortable then ever holding CVN...love her.
     
  5. Riles

    Riles

    Posts:
    88
    Likes Received:
    0
    Joined:
    Jan 20, 2006
    Hate to break it to you but this well is in the "central NSE fault compartment". So no tax relief here unfortunately.
     
  6. JTLP

    JTLP

    Posts:
    1,346
    Likes Received:
    45
    Joined:
    Nov 27, 2007
    Ahh schweppes...sorry i didnt read it properly peeps...all this partying in foreign lands...thanks for the correction!

    Why hasnt it been released to mkt yet?
     
  7. Squawkbox

    Squawkbox

    Posts:
    35
    Likes Received:
    0
    Joined:
    Mar 17, 2008
    Anyone taken into account the extremely unstable and worsening social problems in Thailand? It seems to me that there are too many eggs in one basket here.
     
  8. mrgroundwork

    mrgroundwork

    Posts:
    74
    Likes Received:
    0
    Joined:
    Dec 10, 2007
    there is a bit of discounting for sovereign risk, but the thais are smart... unlike some asian countries they seem to have a good awareness of how important foreign investment, tourism etc is to their country... i cant see them taking back any permits or anything like that... even if there is some civil unrest, i cant see it affecting CVN too much... thailands military are pretty strong too, should be able to keep things under control...

    however it does raise a good point about diversification... with all this extra cash rolling in and very depressed asset values, perhaps it is time to look at buying into another project/company in a different geographic region?

    otherwise what do you do with the cash? dividend time? capital return? throw a an all expenses paid full moon party for all shareholders?
     
  9. Shrewd Crude

    Shrewd Crude

    Posts:
    170
    Likes Received:
    0
    Joined:
    Jul 13, 2008
    Yes, high soverign risk discounting projects, and markets crashing...
    This stock should be over $1 right now (based on expected, and current revenues)... 15,000 BOPD is very big....
    heres an article that is a few weeks old...
    I very much so like CVN...

    Thai PM consults king over escalating protests
    BANGKOK (AFP) ”” Thai Prime Minister Samak Sundaravej consulted the king over escalating protests Saturday, after demonstrators forced Phuket's airport to close indefinitely in their drive to force the premier from office.
    With his government offices besieged for a fifth day by a 15,000-strong protest rally, Samak left Bangkok vowing not to bow to the their demands.
    "I want to reassure the public that I will continue to carry on in my job. I will not surrender, I will not quit," he told an audience at a prearranged event on national reconciliation.
    Supporters of the so-called People's Alliance for Democracy (PAD) have been squatting in the grounds of Government House since Tuesday, with 45 of their guards breaking into the now-empty main office building briefly on Saturday before their leaders told them to retreat.
    Since Tuesday Samak Sundaravej has worked out of defence complexes, including the military headquarters and the defence ministry.
    The PAD expanded their campaign across the country on Friday, forcing the closure of three regional airports, provoking railway strikes and clashing with riot police in Bangkok.
    The group's founder, media tycoon Sondhi Limthongkul, told reporters the protests would continue.
    "PAD members have agreed not to give up. Since they (Samak's party) took power in the election, they are trying to manipulate politics and interfere in the justice system," Sondhi said.
    After skirmishes with police on Friday caused minor injuries and rattled nerves in the coup-prone kingdom, Samak flew to the king's residence in the nearby town of Hua Hin, returning to Bangkok Saturday morning.
    He flew again to Hua Hin Saturday afternoon for a prearranged audience with the king, but said nothing to reporters on his return to Bangkok at 8:00 pm (1300 GMT).
    The PAD protesters accuse Samak of acting as a puppet for ousted premier Thaksin Shinawatra, who they helped topple in 2006.
    The PAD rails against popular democracy, saying it has encouraged corruption, and has openly called for the palace, the military and Thailand's traditional elite to take a greater role in politics.
    Although the demonstrators regularly invoke the king, both in speeches and with royalist imagery, he has remained silent in the current standoff.
    The king has little formal political power, but he holds enormous sway over his subjects and has acted as a referee during past political crises in his six decades on the throne.
    Airports in the holiday resort of Phuket and two other southern towns were closed on Friday as protesters marched on them.
    One small airport reopened Saturday, but 15,000 passengers remain stranded on Phuket, with its airport now shut indefinitely, the airport's director Wicha Nurnlop told reporters.
    About one quarter of Thailand's rail services have also been halted since Friday, after nearly 250 drivers and mechanics called in sick to support the protests.
    PAD protesters have been demonstrating against Samak since May, but they stepped up their movement on Tuesday by storming a TV station and the Government House grounds.
    The turmoil has raised fears of a new coup in a country that has seen 18 military takeovers since the end of absolute monarchy in 1932.
    The powerful army chief, General Anupong Paojinda, has so far insisted that the military will not return to the streets.
    Hoping to defuse the crisis, Samak has called for an emergency parliamentary debate on Sunday, but has refused to step down or call new elections.
    :cool:
    .^sc
     
  10. Garpal Gumnut

    Garpal Gumnut

    Posts:
    9,249
    Likes Received:
    488
    Joined:
    Jan 2, 2006
    Technically CVN looks set for a big fall through present support.

    A descending triangle and a failure of buyers at recent lows does not auger well.

    gg
     

    Attached Files:

  11. JTLP

    JTLP

    Posts:
    1,346
    Likes Received:
    45
    Joined:
    Nov 27, 2007
    Quite a big volume for CVN today and with Oil dropping off quite a lot im glad she held firm.

    GG if she did fall through I ´d have to put the money where my mouth is and scoop a mil up...hopefully and insto picks up 330mil :)
     
  12. Motogoon

    Motogoon

    Posts:
    39
    Likes Received:
    0
    Joined:
    Jul 1, 2008
    Oh awesome, just what people need at the present, someone predicting more doom & gloom.

    Forgive me if i don't put too much faith in that chart, i seem to recall one posted a while ago by yourself predicting something like a $1.30?

    No buyers at the present you say, well its not just cvn suffering from that, you could say that about just about everything.

    i'm not saying it may not happen though because the way the markets are it seems like just about anything could happen to a good stock, however i think predicting a rise or fall in the current enviroment is about a 50/50 call.
     
  13. seasprite

    seasprite

    Posts:
    368
    Likes Received:
    2
    Joined:
    Sep 21, 2008
    By my records over the last few months the market has been flooded with a sell down by HSBC of 6.7m shares , Citicorp nominess 4m , ANZ nominees 1m and National nominees 0.8m and then of course individual investors driving the price down with fear.

    Lately ANZ nominees has however increased their holdings by 1.8m and National nominees have bought back their 0.8m

    Good news is JP Morgan have been mopping up increasing their holdings by 4.6m shares.
    I would have to go back through previous announcements but from memory the majority of JP Morgans 34m shares were bought for 0.55c and 0.75c so they obviously see value.
     
  14. jonojpsg

    jonojpsg

    Posts:
    829
    Likes Received:
    0
    Joined:
    Jun 25, 2007
    Seriously though, it's pretty hard not to see value at this price. With the amount of money they have flowing in at what, 6000bopd, what are their costs per barrel, couldn't be more than $30-$40? That means even at $75, they are making about $75m a year. If they were to pay 50% out as dividends which would still leave them with oodles to explore/develop, that would give about a 5c divvie or about 18%!!!!!

    Now that looks like value!
     
  15. Trader Paul

    Trader Paul

    Posts:
    1,045
    Likes Received:
    0
    Joined:
    Jun 5, 2007
    :)

    Hi folks,

    CVN ... expecting one positive time cycle, in the week ahead ... :)

    Updated CVN chart attached, below.

    have a great day

    paul

    :)

    =====
     

    Attached Files:

  16. seasprite

    seasprite

    Posts:
    368
    Likes Received:
    2
    Joined:
    Sep 21, 2008
    You got to be kidding if you believe that mumbo jumbo. That's right up there with the Big Mac Index.
    I prefer to go on 1) they have plenty of cash on hand
    2) they are on target to 6000 bopd net by xmas
    3) like many stocks they were oversold
    4) L20/50 has known hydrocarbons
    5) the oil price is on it's way up prior to OPEC's announcement this week.
     
  17. Riles

    Riles

    Posts:
    88
    Likes Received:
    0
    Joined:
    Jan 20, 2006
    TP can you explain what we're looking for in your chart?
    I can only see an elipse positioned over the chart - what's the relevance and how do you summize that we should get a positive time cycle from it next week?
     
  18. Labrat

    Labrat

    Posts:
    1
    Likes Received:
    0
    Joined:
    Oct 22, 2007
    CALGARY, ALBERTA--(Marketwire - Oct. 28, 2008) - Pan Orient Energy Corp. (TSX VENTURE:pOE) -

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

    NSE-D1 appraisal well (60-per-cent working interest and operator)

    The NSE-D1 appraisal well, located approximately 455 meters north of the NSE-B drill pad is currently on a production at a rate of approximately 710 bopd with a 0.1 to 0.3% water cut. The well is producing within the limits of the current pump configuration with a fluid level at approximately 205 meters below ground level suggesting the well can be produced at a higher rate. A larger capacity tubing pump will be installed once it has cleared Thai customs later this week.

    NSE-A4 appraisal well (60-per-cent working interest and operator)

    The NSE-A4 appraisal well had originally reached a total depth of 787 meters TVD after penetrating the top of the target volcanic reservoir at 730 meters TVD. Severe mud losses were experienced while drilling, indicating the most extensively fractured reservoir section encountered in any well to date. While setting the 4.5" liner, an obstruction was encountered in the hole, just out of the casing window, making it impossible to complete the well. As a result, the 7" casing was milled out and set deeper prior to kicking off into the main volcanic target zone. This operation has now been completed. While drilling the main volcanic target severe mud losses were encountered once again, in addition to live oil to surface while reaming below the 7" casing shoe. At the present time the hole is being conditioned to set a 4.5" liner and equip the well for production.

    Testing is anticipated to be completed within 10 days of setting the 4.5" liner, at which time test results will be announced. Upon completion of the current operation, the rig will be moved to the NSE-C1 well location which is 1,000 meters east of the NSE-B drill pad and targeting an area of possible reserves as defined in the year end 2007 NI 51-101 compliant reserves report.

    NSE-D2 appraisal well (60-per-cent working interest and operator)

    The NSE-D2 appraisal well is currently drilling ahead at depth of 810 meters measured depth (726 meters true vertical depth) near casing point, just above the estimated depth of the main volcanic objective that is expected to be encountered structurally much higher than at NSE-D1. The subsurface target is located approximately 330 meters north of the NSE-D1 location. Drilling is anticipated to be completed in the next 6 days.
     
  19. Garpal Gumnut

    Garpal Gumnut

    Posts:
    9,249
    Likes Received:
    488
    Joined:
    Jan 2, 2006
    Much as I have in the past been a holder and positive about cvn, the chart is now parlous, in a descending triangle with higher volumes on the lows.

    We will seee 15c soon imo.

    gg
     

    Attached Files:

  20. woltage

    woltage

    Posts:
    28
    Likes Received:
    0
    Joined:
    May 10, 2008
    Could some-one tell me if severe mud losses is a good or bad thing please? mmm need 100 characters...
     

Share This Page