CVN - Carnarvon Energy

[quarky]

Forget picking up sub 20c, will be struggling to pick them up sub 30c very soon....

Announcement due soon and will fly.Has been gaining momentum.ASX query re price sent out so that will be raising a few eyebrows bringing it to the attention of many more.

sounding confident
well, looking at the price today, i feel like i should have profit-taken and sold it yesterday. (would have made several thousand extra. )

hope there's some good announcements comin' up...


So Far, The Latest ASX Company Announcements
Latest Announcements for CARNARVON PETROLEUM LIMITEDDate Time Code Release
12/6/2007 14:55 PM CVN Response to ASX Query re Share Price
5/6/2007 09:36 AM CVN Good Oil Flow at Na Sanun 4
4/6/2007 10:07 AM CVN Operations Update Thailand
24/5/2007 10:12 AM CVN Operations Update - Na Sanun-4 Appraisal Well

 

[Jeevers]

I believe that CVN is undervalued given its production potential. You can't look at the charts 100% and say that its tanked (unless you were a day trader).

The fact that it is producing oil is a great sign (with a flow rate>1000bopd). Look at some others that have run hard such as NDO which has a potential of 4400bopd and has not produced oil yet - sorry in advance, don't mean to compare but it has run up on speculation big time - August/Sep is the month when it will have to show some results.

The Capex CVN has to fund development costs is roughly $3.5M-$5M, which is a lot lower than some of the others. 37 wells - great hit rate chances of finding more oil. Flow rate is good given its 40% stake in interest in Phetchabun Basin and its capex. DYOR, but I think it is a buy and the valuation is about right.

 

[Lachlan6]

This stock is not even close to tanking. I am so positive about this chart and am waiting for a small retracment to play out then a move to higher levels to scale in and buy more. We all have a tendency to get the wind up us if a stock stops going straight up, but notice that the last three days have all been inside days, a postive sign of accumulation. When it does retrace look for the $0.18 level as it is half the bullish candle of the 8th and is close to the previous resistance. All looking very nice at CVN.

 

[Garpal Gumnut]

This stock is not even close to tanking. I am so positive about this chart and am waiting for a small retracment to play out then a move to higher levels to scale in and buy more. We all have a tendency to get the wind up us if a stock stops going straight up, but notice that the last three days have all been inside days, a postive sign of accumulation. When it does retrace look for the $0.18 level as it is half the bullish candle of the 8th and is close to the previous resistance. All looking very nice at CVN.

I am optimistic about CVN but question support at .18

It seems more likely it will find support if it does retrace at .16, a recent previous resistance level.

Garpal

 

[Lachlan6]

Gday Garmal. One of the two doesnt really matter we never know for sure what a stock will do. $0.18 is a more short term bullish retracement and $0.16 is still fine.

 

[Garpal Gumnut]

Gday Garmal. One of the two doesnt really matter we never know for sure what a stock will do. $0.18 is a more short term bullish retracement and $0.16 is still fine.

Only thing is it may may matter if one were thinking of adding to ones holding on a retracement.

Better to jump back in at 16/17 than 18/19.

Agree with your sentiments though.

Lets wait and see, if it increases in price and doesn't retrace we'll both be happy.

Garpal

 

[money maker]

Looking very good today...lets see how final price holds ...if it can stay at 25c then once ann comes, we will be looking very profitable (am very much in the green at the moment, the greener the better). :

 

[quarky]

yeah,...
i'll probably sell around the 0.26 mark. profit take to offset some losses in Commander (CDR) and Sigma Pharmaceuticals (SIP). tax time is soon. :

it should reach that figure before dropping a little.

 

[alanding]

it seems few of ASFers has interest in CVN. It drilled out lots of water. My buy trigger is activated. Hope CVN can do some work well in a few days.

 

[Nasdaq]

Announcement out today. Second rig is drilling and further results over the next three weeks. Let' hope for some good results. Hasn't done much since .28 on intraday a while back.

 

[jtb]

CVN looking like entering buy territory again, doesn't seem to want to fall to 12c.

Nizar you still watching this?

 

[Pommiegranite]

Well..I've been waiting a while..around 6 weeks..which is unbelievable patience for me!! Now I finally got my fill at 14c.

The fully diluted market cap is now below $100million.

Does anyone know when we can expect the next set of drill results?

 

[jtb]

Good news out this morning.
This field is looking to be very large

http://aspect.comsec.com.au/asxdata/20070813/pdf/00747821.pdf

 

[1234]

Ann out, very good results..

Seems to be holding very well through a turbulent time in the market..

Expect new ann in a week or so..

"Carnarvon Petroleum Ltd (“Carnarvon”) is pleased to announce an increase in the tested flow rate from the NS3-D1 well which is now flowing at a stabilised rate of 434 barrels of oil per day (“bopd”). In addition, drilling operations are progressing on the L44-H and L44G-D1 wells. The L44-G well, completed in mid August following oil shows and lost circulation in the primary targeted volcanic section, is waiting on completion of drilling at L44G-D1 before flow testing operations can commence"

"On 27th August it was announced that NS3-D1 was flowing oil at a maximum rate of 337 bopd.
After installing a larger surface beam pump, NS3-D1 has been put back on production at a sustained, stabilised rate of approximately 434 bopd, with a minimal water cut varying between 0.2% and 0.47%, as the well continues in the final stage of cleanup. "

"The L44G-D1 appraisal well is located in the northernmost fault block of the Na Sanun East structure, at a location approximately 7.4 kms north of the NS3-D1 well. This well is being drilled as a deviated well from the same surface drilling pad as the previously drilled L44-G well, to intersect an interpreted updip part of the structure. Following the completion of the L44G-D1 well, both this and the L44-G well will be flow tested."

 

[1234]

nice .18 close - (highest in 6 weeks from a very steady stock) on the back of the last ann with good volume.

ann next week should see this tick nicely...

 

[jtb]

Nice action today again CVNer's.
Volcanics are looking to be the goods.................................

 

[1234]

Nice action today again CVNer's.
Volcanics are looking to be the goods.................................

Indeed.. indeed.

Can I qualify for my stock pick for September on countback?? lol..

Just happy it's ticking..

Curious as to the full potential of this stock, results from the bids placed earlier in the month should be due soon also, adding fuel to the fire.. ?

 

[INORE]

Indeed.. indeed.

Can I qualify for my stock pick for September on countback?? lol..

Just happy it's ticking..

Curious as to the full potential of this stock, results from the bids placed earlier in the month should be due soon also, adding fuel to the fire.. ?

Hi 1234, what are these bids you talk about??? I beleive this stock has some good potential as well....are there any monsoon seasons in thai that will affect the SP? Cheers.

 

[1234]

Hi 1234, what are these bids you talk about??? I beleive this stock has some good potential as well....are there any monsoon seasons in thai that will affect the SP? Cheers.

Heya mate. Check the CVN website and have a look at the ASX releases.

They have placed a bid for two new exploration permits.

One around existing infrastructure, (onshore) in a known area.

 

[krisbarry]

Flow results due out this week, looking for a nice upgrade. Going by previous flow results we saw an increase.

CVN curently have proven flow rates of 1400bpd, not bad going, and looks like more to come.

The chart indicates CVN has been in an upward trend since late Aug.