CVN - Carnarvon Energy

[Kowabunga]

Wow it seems it was mearly a breather that was taken around may 5th/6th.

As I also stated though there was heaps of volume on the buy side which kept its bullish out look.

Im sure the price of oil is helping this stock along.

Looks like the highest close today since August 23rd 1995 where it closed at 88.9c

Great stock and I wish i had been along for the ride sooner when i first saw someone pick CVN for the ASF stock tipping comp Aug last year

should have used your....................................................................... sharingan

 

[dogwithflees1983]

CVN up again today to 76c, doing very nicely. Not showing any sign of retrace with buyers stacking up (4.3m units) compared to sellers (2.2m units)....

 

[quarky]

CVN up again today to 76c, doing very nicely. Not showing any sign of retrace with buyers stacking up (4.3m units) compared to sellers (2.2m units)....

uh huh.
slowly, but surely, it's creeping up.
it's been closing each day at a higher price...i thought i even saw it at 0.795 in early trading...and had to rub my eyes. P
for a company operating with no debts, it'll probably settle at $0.80 (just my baseless speculation) and i'll be super happy with a $0.90 price high...in which case i might offload just to offset my losses in SIP (Sigma Pharmaceuticals), CTO (some gold company) and FNT (Frontier Resources).

 

[JTLP]

CVN has become very interesting of late.

There are some big things to note, especially over the last few months.

Macquarie sold out of their position, JP Morgan Nominees made a massive leap. Perhaps JP are mopping up the shares and helping to build a tighter registry? It was Ted's goal to do this.

Plus, after the initial announcement a week ago, the shares quickly fell to 59 cents, only to be snapped up again. Surely this can not be traders?

- Waiting on successful bid with Pearl Energy for blocks L52/20 and L53/20 (i say successful because they were the only ones to bid lol )

- Production to increase after routine maintanence of equipment

- Lots of well results

I am hoping we get an update about plans for the 2H '08 and beyond. I want to see some drilling here, in the Carnarvon Basin, where the dream all began :

 

[eddyeagle]

Closed at 80 cents today - awesome!
Has had an amazing run since mid March when it was trading in the mid 40s!
Congrats to all those who showed faith!
Where to from here I wonder?

 

[Garpal Gumnut]

Closed at 80 cents today - awesome!
Has had an amazing run since mid March when it was trading in the mid 40s!
Congrats to all those who showed faith!
Where to from here I wonder?

It would be nice to know the future. There is an order in life and should CVN continue its amazing run then as I have indicated in the 2 charts below , I do not feel that a high of between 1.38 and 1.44 is impossible on a wave 3 high.

Some CVN disciples were chiding me when I picked the top of wave 1, but you can see that on Chart 2 this was not a wild guess as it came at the end of a fibonnaci time zone indicated by the vertical lines on Chart 2.

The horizontal retracement lines on Chart 1 also picked the 61% retracement of Wave 2 from the Wave 1 highs.

Isn't life and charting interesting.

Once you have digested these charts I will leave you be to continue talking about things oily that entail using big words such as arabs, barrel and layers.

I've never been able to make head nor tail of oil reports, a bit like stock tip sheets, all greek.

I will repost a further chart when Hardlys and Phat Profits and the brokers have ramped it up to my price target, which should be about the end of August.

These are weekly charts, the best way I have found to trade these markets as one never knows whether ones Directors are billionaires or paupered by Security lending from day to day.

gg

 

[JTLP]

GG i like your charts. Big props and if it falls that way it will be some sweet cash money chemistry for my holiday.

Unfortunately, CVN is quite a loose share (to put it politely) and one sniff of "plugged & abandoned" or "Oil less than 1000 bopd" and she is going down faster then the Hindenburg.

Still...Viva La Charts!

 

[JTLP]

Somebody is pretty keen to dump CVN. Small trades, most are 1,000 each. Sometimes 3,000, sometimes 4,000, sometimes 10,000. Really draining.

Bring on some results (some due tonight from memory)

 

[Dukey]

Knocking on or around 80c again today... my depth shows about 1.2M shares avail at 80c but after that it thins out pretty quickly.... so if those 1.2M get taken out, we could be on our way.... fingers crossed

go well CVN holders - dukey

 

[MangaNOID]

i think the only thing that will, or might, push this beyond 80c in the near future is the results of the currently being tested deep volcanic well.

one deeper volcanics have proved itself (poe9a) so if a second comes up trumps then that would sure help confirm one hell of alot more oil is down there to be added to the reserves!!

 

[Dukey]

i think the only thing that will, or might, push this beyond 80c in the near future is the results of the currently being tested deep volcanic well.

one deeper volcanics have proved itself (poe9a) so if a second comes up trumps then that would sure help confirm one hell of alot more oil is down there to be added to the reserves!!

That will certainly help , but there are other positive factors that bode well:
# broker recommendations - Hartleys and Fat profits still spruiking... are there others out there?
# Instos - someone mentioned JPMorgan below.
# and of course the all important POO!!!!! what is it now $130??

- minor ups n downs aside I think CVN is on the high road.

-my

 

[ktrianta]

It would be nice to know the future. There is an order in life and should CVN continue its amazing run then as I have indicated in the 2 charts below , I do not feel that a high of between 1.38 and 1.44 is impossible on a wave 3 high.

Some CVN disciples were chiding me when I picked the top of wave 1, but you can see that on Chart 2 this was not a wild guess as it came at the end of a fibonnaci time zone indicated by the vertical lines on Chart 2.

The horizontal retracement lines on Chart 1 also picked the 61% retracement of Wave 2 from the Wave 1 highs.

Isn't life and charting interesting.

Once you have digested these charts I will leave you be to continue talking about things oily that entail using big words such as arabs, barrel and layers.

I've never been able to make head nor tail of oil reports, a bit like stock tip sheets, all greek.

I will repost a further chart when Hardlys and Phat Profits and the brokers have ramped it up to my price target, which should be about the end of August.

These are weekly charts, the best way I have found to trade these markets as one never knows whether ones Directors are billionaires or paupered by Security lending from day to day.

gg

GG.

Thanks for your great charts it is really appreciated. Will keep a close eye on what it does between now and 31 August, and if it gets to $1.38 then I will certainly be looking at booking the profit.

Wish I had of read your chart initially as I got in at .635 just before the new year and was doing well before the sub prime knocked it back below 40 cents.
Still at 79 cents now am doing well and if I double my money by August I will be happy.

 

[Garpal Gumnut]

GG.

Thanks for your great charts it is really appreciated. Will keep a close eye on what it does between now and 31 August, and if it gets to $1.38 then I will certainly be looking at booking the profit.

Wish I had of read your chart initially as I got in at .635 just before the new year and was doing well before the sub prime knocked it back below 40 cents.
Still at 79 cents now am doing well and if I double my money by August I will be happy.

ktrianta. I agree with your sentiments.

It would be nice if CVN kept on going but please don't be over influenced by my chart. It sounds as if you did well by staying in and not panicking.

I've been in this since it was under 5c , for years and have an attachment to it, as I feel it could be another Woodside, don't ask me why, just a hunch.

I enclose updated charts, for the weekly, these will be the last for a while, as a mate is in a bit of financial trouble in Singapore and I am popping up there to help him out, and won't be able to post my charts.

Its just an updated weekly. It seems from the last bar as if CVN is still enjoying buying support.

gg

 

[ktrianta]

ktrianta. I agree with your sentiments.

It would be nice if CVN kept on going but please don't be over influenced by my chart. It sounds as if you did well by staying in and not panicking.

I've been in this since it was under 5c , for years and have an attachment to it, as I feel it could be another Woodside, don't ask me why, just a hunch.

I enclose updated charts, for the weekly, these will be the last for a while, as a mate is in a bit of financial trouble in Singapore and I am popping up there to help him out, and won't be able to post my charts.

Its just an updated weekly. It seems from the last bar as if CVN is still enjoying buying support.

gg

GG,

Thanks again.

My investment philosophy is very much to pick quality with a 6 month to long term view of holding, so the fact that i got in at 63.5 cents, meant I was confident it would be much higher in 6-12 months time. Short term gyrations, I ignore but in accord with human nature, feel a lot better with CVN at 79 cents than 40 cents.

Another Woodside? WOW would love to see that!!!!

 

[Hank Rollins]

POE Announcement

May 27, 2008 09:00 ETPan Orient Energy Corp.: Thailand Drilling Update
CALGARY, ALBERTA--(Marketwire - May 27, 2008) -

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

Pan Orient Energy Corp. (TSX VENTUREOE) (45,391,442 common shares issued):

NS3-D1ST Side Track Appraisal Well (60% WI & Operator)

The NS3-D1ST high-angle deviated/horizontal side track has been tested at stabilized rates of approximately 1,650 bopd with a water cut of 0.38% over an approximately three day period. At the end of this initial test period, water cuts increased to as high as 20% before the well was choked back. Currently the well is restricted to approximately 180 bopd with a 20% water cut while determining if the water production originates from the more than 3,800 bbls of drilling water that was lost while drilling or coning up a large fracture system. A number of options will be considered to optimize production depending on the final analysis of results.

NS3-D1ST was drilled to a total measured depth (MD) of 958 meters (866 meter true vertical depth (TVD)) penetrating 62 meters measured thickness of volcanic reservoir (16 meters true vertical thickness) at which time the decision was made to terminate the drilling of the well, prior to going horizontal, due an influx of gas originating from a shallow sand and resulting in conditions that were unsafe to drill ahead when combined with the severe mud losses that were being experienced at that time in the main volcanic zone.

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

The L44H-D2 deviated appraisal well, in addition to the main volcanic zone, penetrated five deeper never before tested volcanic intervals at 1,079 m, 1,154 m, 1,483 m, 1,698 m and 1,824 m measured depth (MD), with measured thicknesses of 21 m, 6 m, 27 m, 62 m and 26 m, respectively. Oil shows were observed while drilling at depths of 1,080 m to 1,100 m, 1,505 m to 1,510 m and 1,845 m to 1,850 m.

Testing has now been completed on the two structurally lowest volcanic zones with test #1 at 1,824 meters MD indicating a tight reservoir and test #2 at 1,698 meters MD resulting in a minor influx of gas.

Perforating is now underway for test #3 over the volcanic that was encountered at 1,482 meters MD. It is anticipated that the volcanic zone encountered at 1,079 meters MD (first volcanic below the proven main volcanic zone) will be evaluated next, as test #4.

Testing operations are anticipated to continue for approximately ten more days at which time results will be announced.

NS5-D1ST Horizontal Development Well (60%WI & Operator)

The NS5-D1ST horizontal development well, located south of L44-H and 200 meters north of the original NS5-D1 well, has reached a total measured depth of 1,406 meters (872 meters TVD) within the target volcanic reservoir zone. Severe mud losses and oil shows were encountered over the majority of the approximately 145 meters of horizontal section through the main volcanic reservoir.

Testing is anticipated to be completed within the next 10 to 12 days at which time results will be announced.

L33-3 Exploration Well (60% WI & Operator)

The L33-3 exploration well, located on concession L33 approximately 33 kilometers north of the Wichian Buri oilfield, is currently drilling ahead at a depth of approximately 500 meters TVD towards a planned total depth of approximately 1,200 meters TVD targeting both volcanic and sandstone reservoirs.

L33-3 is a high risk stratigraphic test well drilled on the basis of one 2D seismic line within the untested Khon Khwang graben, located 33 kilometers north of the nearest proven production at Wichian Buri. The objective of the well is to evaluate the source rock and reservoir potential within the Khon Khwang sub basin. Validation of the source rock presence and maturity would approximately double the region of hydrocarbon potential within concessions L33 and L44 and result in an extensive 2D seismic program over this large area in July 2008.

Drilling is anticipated to be completed within 10 to 12 days.

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

 

[JTLP]

Poor old CVN will get smashed for this.

Not what traders want to hear. They want answers to all the wells, now!

Perhaps the big buyer will continue to bring the SP back up to .05 cents short, if not even, of the previous day price.

Some positive results though from that ann, and hopefully we can see a build up for 2 weeks, mainly on:

NS5-D1ST Horizontal Development Well (60%WI & Operator)

The NS5-D1ST horizontal development well, located south of L44-H and 200 meters north of the original NS5-D1 well, has reached a total measured depth of 1,406 meters (872 meters TVD) within the target volcanic reservoir zone. Severe mud losses and oil shows were encountered over the majority of the approximately 145 meters of horizontal section through the main volcanic reservoir.

Testing is anticipated to be completed within the next 10 to 12 days at which time results will be announced.

Sounds Juicy!

Time will tell...

 

[MangaNOID]

this is neither negative or positive

all of that reporting, but nothing that is finite to any of the wells mentioned! why couldnt they just wait another 10 days or so and give us final results.

...patient...

 

[JTLP]

this is neither negative or positive

all of that reporting, but nothing that is finite to any of the wells mentioned! why couldnt they just wait another 10 days or so and give us final results.

...patient...

Actually it is negative.

First well has lotsssssssssssssssss of water = not good

Second well was abandoned = not good

Third well (L44-DH2) is slightly more positive, but by no means astronomical. Market won't look kindly on it.

NS5-D1ST - positive but market dont care until you get BOPD

L33-3 - Neutral...market dont care.

CONCLUSION:

CVN FIND SOME OIL!

Seriously, I wish CVN would do a share consolidation or buy back. I've said it numerous times. There are just too many shares on issue, and it is quite frustrating.

Even if they reduced the shares on issue by 1/2 i'd be a happy camper.

Gotta lug myself to the next AGM and suggest this crap.

 

[1234]

Hit prediction.

Water cut will be solved by early next week, resulting in an increased bopd output from the 1650 already tested...

Water has never been a prob, I doubt it will be this time either.

but yeah, POE getting hit..

 

[Rob 17]

Hold on to your hats once the news is posted this morning.

I might jump back on board if it comes down to .65cents

DYOR