CVN - Carnarvon Energy

[JTLP]

CVN are actually pumping about the same, if not more, BOPD.

They also have zero debt, unlike your good friend AED.

I admit that AED is starting to look the goods now, but I bet it didnt feel so good for holders when it dropped from $11 or whatever. Plus their is one thing that holders want, a definitive answer on the Sinopec buyout...what happens if they decided to drop the deal? Or is it confirmed?

 

[1234]

Woot, oil everywhere - test results due in 7!!!


Pan Orient Energy Corp.: Thailand Drilling Update

CALGARY, ALBERTA--(Marketwire - April 21, 2008) - Pan Orient Energy Corp. (TSX VENTUREOE) -

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

POE-9A Appraisal Well (60% WI & Operator)

POE-9A vertical appraisal well, located approximately 130 meters south of the NSE discovery well POE-9, was logged after reaching an intermediate casing depth of 1,134 meters. Very severe lost circulation within the main volcanic interval was encountered at 849 and 854 meters with loss rates of 264-280 bbls per hour and 200+ bbls per hour through the remainder of the 65 meter thick interval. A very intensely fractured zone, or cavern, was encountered between 871-881 meters with penetration rates greater than 200 meters per hour.

After setting intermediate casing, drilling continued to a total depth of 1,171 meters. Drilling fluid losses of approximately 90 bbls per hour were encountered at 1,158 meters within a previously untested, new volcanic objective the top of which was penetrated at 1,143 meters. Oil shows and elevated mud gas readings, in combination with the losses noted above, resulted in the decision to terminate drilling and prepare to open hole test this new volcanic zone. Free oil was observed over the shale shakers at surface while circulating the well with the drill bit located near the top of the new volcanic zone. Testing of the deep volcanic objective is anticipated to be completed within 7 to 10 days.

L44H-D2 Appraisal Well (60% WI & Operator)

L44H-D2 deviated appraisal well is currently drilling ahead at a depth of 1,456 meters true vertical depth ("TVD") towards a total depth of approximately 1,800 meters TVD after logging and setting intermediate casing at 1,043 meters TVD, just below the base of an unexpectedly thick (180 meters) main volcanic zone. Very severe lost circulation was encountered in the main volcanic and FMI well bore image logs indicated extensive fracturing in the upper 120 meters of the 180 meter thick volcanic interval. Good oil shows and free oil at surface were observed while drilling this zone.

Two deeper, never before tested volcanic intervals have been encountered at 1,072 and 1,410 meters TVD with thicknesses of 20 and 28 meters respectively and exhibiting oil shows. Drilling is anticipated to encounter a number of additional volcanic targets between the current depth and the planned total depth of 1,800 meters that will be reached at a subsurface location approximately 640 meters northwest of the L44-H producing well. Drilling is anticipated to be completed in approximately 10 days.

NS3-D1 Side Track Appraisal Well (60% WI & Operator)

Upon completion of the POE-9A appraisal well, drilling will commence on the NS3-D1 high angle deviated/horizontal side track. NS3-D1 ST will deviate horizontally north of the original NS3-D1 well bore that penetrated the main volcanic reservoir at the down dip, southernmost extent of the NSE South fault compartment. As part of this operation, the original NS3-D1 well bore will be abandoned and replaced by this new, horizontal side track.

Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand and in Western Canada.

This news release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this news release includes, but is not limited to, references to: well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, and information on future production and project start-ups. By their very nature, the forward-looking statements contained in this news release require Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties and other factors, which could cause actual results, expectations, achievements or performance to differ materially, including without limitation: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, other technical and economic factors or revisions and other factors, many of which are beyond the control of Pan Orient. Although Pan Orient believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct.

 

[Dukey]

Mmm - slightly disappointed with CVN today.
- JV partner POE was up 5% (64c) overnight in Canada on the news announced in 1234's prior post. Thought CVN might have jumped today ... and maybe been nudging 60c - but no go thus far.
Quite a few sellers lined up around 56/57c....

... and the parties just beginning..... why sell... why???

Any ideas folks - why the news of good oil shows in two wells, is worth so much more in Canadee-i-o than it is here??

... well testing to come soon of course... never count your chickens and all that..

 

[kransky]

looks very positive to me. only 7 or so days to wait for the next set of flow results.

CVN has been very quiet in the last 3 months as drilling stopped due to maintenance and they had a duster... and it has seen the price plummet from 77c to 43c

back on an uptrend now as the 2 rigs are back on full steam ahead and possibly a 3rd starting in Q3. JV production is over 10000bopd and the oil price going crazy.. looks like upward pressure on CVN's sp.

 

[Rob 17]

Looks like some funds with large parcels are getting out ahead of drill results.

Share price should find support at .50cents IMO

DYOR

 

[adobee]

Looks like some funds with large parcels are getting out ahead of drill results.

Share price should find support at .50cents IMO

DYOR

How do you come to this conclusion there are no notices of changes in substanial share holdings and the price has closed up ?

 

[Garpal Gumnut]

looks very positive to me. only 7 or so days to wait for the next set of flow results.

CVN has been very quiet in the last 3 months as drilling stopped due to maintenance and they had a duster... and it has seen the price plummet from 77c to 43c

back on an uptrend now as the 2 rigs are back on full steam ahead and possibly a 3rd starting in Q3. JV production is over 10000bopd and the oil price going crazy.. looks like upward pressure on CVN's sp.

I enclose an interesting chart, a weekly from the beginning of last year to the present.

Its particularly relevant for those who were upset when I pointed out that the charts suggested cvn was topping at above 70c about Dec 07.

Since then it has retraced 61% in a wave 2 and it now appears to be starting a wave 3 of an Elliot Wave pattern. This wave is usually longer than wave 1 .

So the funnymentalists may be correct as if it is a wave 3 then $1.30 is not out of the question. Oh that Rene Rivkin were alive. Now we only have Hartley, Fat Profits and Intelligent Inv to sell pamphlets to the funnymentalists, I believe some of them agree with a wave 3, from their tea cups!! Oh and Opes is gone so it will be back to the instos and superfunds to kick this one along.

gg

 

[JTLP]

GG i actually value your T/A. Unfortunately when you called the top around 70 cents i didn't sell out!

If your prediction of around the $1.30 mark came to fruition, then i would be a very happy camper. It will be an interesting time with the current exploration and appraisal wells being drilled. If CVN has some good success and flows, it should push it up nicely. Breaking its old high may take some big news though?

I really wish CVN would some sort sort of SP consolidation or a buy back. Too many on issue for my liking...

 

[Dukey]

I enclose an interesting chart, a weekly from the beginning of last year to the present.

Its particularly relevant for those who were upset when I pointed out that the charts suggested cvn was topping at above 70c about Dec 07.

Since then it has retraced 61% in a wave 2 and it now appears to be starting a wave 3 of an Elliot Wave pattern. This wave is usually longer than wave 1 .

So the funnymentalists may be correct as if it is a wave 3 then $1.30 is not out of the question. Oh that Rene Rivkin were alive. Now we only have Hartley, Fat Profits and Intelligent Inv to sell pamphlets to the funnymentalists, I believe some of them agree with a wave 3, from their tea cups!! Oh and Opes is gone so it will be back to the instos and superfunds to kick this one along.

gg

Sounds good to me!

- speaking of Fat Profits (... wouldn't it be cooler if they called themselves "Phat Prophets"??)... anyway, their free e-mail/advertisement last week referred to another 'mystery' company which was very obviously CVN - raving about the potential upside etc. - certainly won't hurt CVN holders/believers to have their recommendation floating around the traps. The e-mail before that they spoke of a 'mystery coal company' (Cockatoo Coal) and it has jumped substantially since - so i'll be interested to see how CVN goes this week....

- cheers - Dukey

(holding cvn)

 

[adobee]

Sounds good to me!

- speaking of Fat Profits (... wouldn't it be cooler if they called themselves "Phat Prophets"??)... anyway, their free e-mail/advertisement last week referred to another 'mystery' company which was very obviously CVN - raving about the potential upside etc. - certainly won't hurt CVN holders/believers to have their recommendation floating around the traps. The e-mail before that they spoke of a 'mystery coal company' (Cockatoo Coal) and it has jumped substantially since - so i'll be interested to see how CVN goes this week....

- cheers - Dukey

(holding cvn)

Seems to have had a very good affect looks like closing up 10% at 60c
I hope that not all their clients have read the email and more read tonight and buy tomorrow !

 

[JTLP]

A nice day and finish for CVN, but the pessimist in me suggests people are buying on rumour etc...although lines were taken out fairly quickly...maybe a new major holder?

Ah well app. quarterly on April 30 as well as drill updates dated 22nd April were expected to take 7 - 10 days to reach TD.

GG i :heart: your target lol

 

[1234]

I enclose an interesting chart, a weekly from the beginning of last year to the present.

Its particularly relevant for those who were upset when I pointed out that the charts suggested cvn was topping at above 70c about Dec 07.

Since then it has retraced 61% in a wave 2 and it now appears to be starting a wave 3 of an Elliot Wave pattern. This wave is usually longer than wave 1 .

So the funnymentalists may be correct as if it is a wave 3 then $1.30 is not out of the question. Oh that Rene Rivkin were alive. Now we only have Hartley, Fat Profits and Intelligent Inv to sell pamphlets to the funnymentalists, I believe some of them agree with a wave 3, from their tea cups!! Oh and Opes is gone so it will be back to the instos and superfunds to kick this one along.

gg

GG, interesting you taking such a bullish view on CVN? Very encouraging..

Seems a bit more market exposure since the reserves update and potential upside. Risk of the Volcanics watering out maybe in the back of the minds of the doubters??

Hope the masses getting onboard today don't just jump ship tomorrow to send this back to the mid 50's. We don't need that!

Needs a good solid few days of trading in the 60's to help spark some long term confidence..

Otherwise, a very predictable day.

 

[77TRADER77]

I just purchased some CVN for my Portfolio. Im in for the longer haul on this.
What dissapointed me today is the huge selloff on ASX of commodities and Banks shareprices being artificially pumped up drawing from commodities such as CVN BHP and RIO and OXR who are bringing in all the 'REAL' moolah into our wonderful country australia. Banks produce nothing and will be found out when US profit reporting commences in about 6-8 months. Its not over yet on GOLD in my humble opinion.

 

[eddyeagle]

I just purchased some CVN for my Portfolio. Im in for the longer haul on this.
What dissapointed me today is the huge selloff on ASX of commodities and Banks shareprices being artificially pumped up drawing from commodities such as CVN BHP and RIO and OXR who are bringing in all the 'REAL' moolah into our wonderful country australia. Banks produce nothing and will be found out when US profit reporting commences in about 6-8 months. Its not over yet on GOLD in my humble opinion.

I hear you 77trader77! Australians have a love affair with the banks bc many people have made large fortunes over the last few decades in bank stocks and continue to believe they will do so in the future! If you are a longer haul investor use days like today to add to your resources positions i reckon...

 

[Rob 17]

CVN's joint venture partner POE is down 11% today on high volume.

Interesting movement as results are due soon.

Anyone know why this may be?

Cheers

 

[Dukey]

CVN's joint venture partner POE is down 11% today on high volume.

Interesting movement as results are due soon.

Anyone know why this may be?

Cheers

I noticed that drop for POE - but not sure why either...

CVN have an investor presentation out which clearly presents their situation... just had a quick look and all looks great to me!!

Cash in hand - $23M
Operating costs around $7.70 US per barrel.
Plenty of exploration upside to come with existing and new leases.

http://www.carnarvonpetroleum.com/docs/CVN Investor Presentation - April 08.pdf

 

[allaboutprofits]

It is indeed a pleasant portfolio to have CVN.

What I enjoyed today was seeing an insto purchasing 1,000,000 shares at 3:20
PM, there appears to be quite an upside with regards to CVN and I'm enjoying
the ride.

I asked a person relating to the drop in value with POE and was informed that
canada is suffering from floods and also has end of year tax period. This could
be the reason why they suffered slightly last night...

I hold substantial CVN shares...

Regards...

 

[wipz]

Hartleys have released a new brokers report via the CVN webby.
They value CVN at 115cps and recommend as a BUY.
Great news for holders.

 

[adobee]

All we need is for Merril Lynch to put as a buy also and it should go off the hook like AGO (Hartleys covers this too)!

 

[Real1ty]

I have had my eye on this stock for awhile but was always put off by the lower price they receive for their oil.

I ended up getting in at .54 last week, so am happy with my decision atm.

There has been a fair bit of strength in the sp and some largish X trades going through but one thing i have noticed is their is usually a lot of larger trades going through right on the close.