CVN - Carnarvon Energy

[chewy]

http://money.ninemsn.com.au/article.aspx?id=338115

link to story

I guess we have to wait for the office in WA to open and get it out to market. I too would have thought it would have been out before open though.

 

[Riles]

Just added some more SUR so I'm not complaining.
Something for my "future fund" hehe.
Lots more leverage on this block for SUR than CVN with only 1/4 the amount of shares on issue for SUR vs CVN.

 

[chewy]

Funny - seems the media have found out about it before the company! CVN ann just out:

"L20/50 ONSHORE BLOCK THAILAND
We note articles appearing this morning reporting the Thai government approval of a petroleum exploration concession to Carnarvon and Sun Resources NL.
As previously reported to the market, Carnarvon was the sole bidder with Sun Resources NL for the L20/50 concession onshore Thailand.
Carnarvon has not received notification of an award of a concession. As and when Carnarvon receives any notification from the Thai Department of Mineral Fuels in respect of the award of the L20/50 concession it will inform the market accordingly."

 

[MS+Tradesim]

Funny - seems the media have found out about it before the company! CVN ann just out:

"L20/50 ONSHORE BLOCK THAILAND
We note articles appearing this morning reporting the Thai government approval of a petroleum exploration concession to Carnarvon and Sun Resources NL.
As previously reported to the market, Carnarvon was the sole bidder with Sun Resources NL for the L20/50 concession onshore Thailand.
Carnarvon has not received notification of an award of a concession. As and when Carnarvon receives any notification from the Thai Department of Mineral Fuels in respect of the award of the L20/50 concession it will inform the market accordingly."

It's also possible that the media have it wrong and they have confused "sole bid" with "awarded concession". But I guess we'll see.

 

[Rob 17]

Its only a matter of time MS Tradesim

Plenty of small orders going through at .65

DYOR ..........

 

[chewy]

No I'm pretty sure the media is right - clearly they are expecting it - this from the SUR ann:

"Neither joint venture partner has as yet received notification of an award of a concession, but a notification is expected in the next week."

 

[MS+Tradesim]

Chewy,

Don't get me wrong, I fully expect CVN/SUR to be granted the concession. I just think the media are jumping the gun a bit. How can they know if CVN don't yet? But all moot anyway so doesn't matter.....

***********


Rob_17,

I'm 99% sure the small orders are a bot selling which would mean we have a large holder exiting or lowering their position. Again, doesn't matter to me as I believe in CVN's success in the context of the Thai energy demand.

 

[resourcesman]

How can they know if CVN don't yet?

***********

simple......... info leaks, or media links to thai govt workers or officials..............................

 

[INORE]

Chewy,

Don't get me wrong, I fully expect CVN/SUR to be granted the concession. I just think the media are jumping the gun a bit. How can they know if CVN don't yet? But all moot anyway so doesn't matter.....

***********


Rob_17,

I'm 99% sure the small orders are a bot selling which would mean we have a large holder exiting or lowering their position. Again, doesn't matter to me as I believe in CVN's success in the context of the Thai energy demand.

Hi MS...do u understand how this bot selling/buying works? I would be fascinated to hear the explanation of why there is consistantly a small bunch of shares being traded over the last month or so...how does it work??? Do they make large purchases and slowly sell off or are they making lots of small sells to help them with large buys??? I have heard that the broker fee's may be a set rate and not a charge on a each trade...it just seems weird...i have been trading for 6 years and have never seen/noticed this BOT trading b4....cheers for any info.

 

[JTLP]

In other news when is the WB-1 announcement due?
I would love for another nice hit and an increase to reserves.

Speaking of which, who thinks that there will be dual announcements on the 1day, or 1 tacked onto the other, about the current drill of WB-1 and the situation regarding capacity maximum and the bottleneck.

Would love to see this cleared up soon...then it could be

 

[Biggle]

The way I read last thursdays announcement, TD for WB should be 8 days, being maybe tonight but probably tommorow for info. I would assume some progress has also been made on the infrasturucture bottleneck problems, considering how crucial they are. Todays sell off looks a little orchestrated to me, with a bot selling small parcels to trickle the price down. Should be out lawed IMO.

 

[adobee]

The way I read last thursdays announcement, TD for WB should be 8 days, being maybe tonight but probably tommorow for info. I would assume some progress has also been made on the infrasturucture bottleneck problems, considering how crucial they are. Todays sell off looks a little orchestrated to me, with a bot selling small parcels to trickle the price down. Should be out lawed IMO.

How can you tell it is a BOT selling down the price ???
I can see there are sales but what proof is there it is somewhat doing it automatically ???

 

[Biggle]

Just my impression, observations from time to time for at least last few days where a small parcel of between 400 to 600 shares will sell every couple minutes, even if the buy side is heavier that the sells.

 

[MS+Tradesim]

How can you tell it is a BOT selling down the price ???
I can see there are sales but what proof is there it is somewhat doing it automatically ???

There's no proof but there is evidence which lends itself to a reasonable conclusion that its a bot.

For the past few days there have been consistent small sells every few minutes. The timing changes but over a period the timing itself is consistent. For example, it could be sells every 5 mins one day. Or it could be every 8 mins or whatever. It changes. The order sizes are also consistent within ranges.

The parcels are too small to be charged at standard brokerage rates. It would not be cost-effective. Hence, more probable that the seller is either a large client being charged a set overall fee, or it is a dealing insto themselves thus eliminating brokerage at all.

It would not be effective human resource use to have a person sitting there entering small sells every few minutes. It would be extremely easy to program something to sell (or buy) within parameters, freeing a person from the job.

Here's an excerpt from course of sales. Follow the trail.

 

[chewy]

is it leagal for them to do this? seems dodgy
(the 100 character limit can be anoying when all i want to do is ask a question)

 

[imaginator]

There's no proof but there is evidence which lends itself to a reasonable conclusion that its a bot.

For the past few days there have been consistent small sells every few minutes. The timing changes but over a period the timing itself is consistent. For example, it could be sells every 5 mins one day. Or it could be every 8 mins or whatever. It changes. The order sizes are also consistent within ranges.

The parcels are too small to be charged at standard brokerage rates. It would not be cost-effective. Hence, more probable that the seller is either a large client being charged a set overall fee, or it is a dealing insto themselves thus eliminating brokerage at all.

It would not be effective human resource use to have a person sitting there entering small sells every few minutes. It would be extremely easy to program something to sell (or buy) within parameters, freeing a person from the job.

Here's an excerpt from course of sales. Follow the trail.

Can we report this to the ASX? What are those guys trying to do. Wanna buy it below .6?

But anyway, picked up more today at 0.635. Maybe should've waited for 0.625 to get in, but what the heck. I think if CVN goes up to $1 it will all still be worthwhile.

 

[MS+Tradesim]

I don't think they're doing anything wrong. Sure, it's annoying but probably better than the alternative of someone dumping in large quantities of stock at once and pushing the price down. Brokers are required to provide orderly markets and several other things but I really don't think drip-feeding is against the rules. Still, if someone wants to go through the ASX rules, feel free. :

 

[gimme some]

For those wishing to understand how the whole bot thing works
Danash gives a pretty good explanation of this at H.C

 

[Joe Blow]

is it leagal for them to do this? seems dodgy
(the 100 character limit can be anoying when all i want to do is ask a question)

Chewy - It's not really that hard to ask two questions or to elaborate on why you are asking a question. All it really takes is an additional moment of thought.

I will let it go this time but please don't pad out your posts in future.

Thanks!

 

[Rob 17]

Pan Orient Energy which is Carnarvon's joint venture partner 60/40 keeps powering on hitting new highs while Carnarvon stands still

Will be interesting to see how the market react to the WICHIAN BURI-1 (DEEP) results.

Would be nice to see some funds snap up some stock for the long term.