CVN - Carnarvon Energy

[kenny]

Is CVN bearing much of the cost of the drilling in this program?

Now what we need to see is some decent volume to confirm a reversal out of this steep downtrend that has shot through some long term EMA's

Cheers,

Kenny

 

[Johntf]

New discovery at NSE-A1 but not much reaction on the market. Still ,things seem to be moving in the right direction at least. Next quarterly report should be interesting.

 

[Rob 17]

Earnings and Dividends Forecast (cents per share)

2007 2008 2009 2010
EPS -0.3 4.1 8.6 11.4

It would be nice if CVN bought back some of its shares..

Maybe that will stablise the share price.


DYOR

 

[grace]

Earnings and Dividends Forecast (cents per share)

2007 2008 2009 2010
EPS -0.3 4.1 8.6 11.4

It would be nice if CVN bought back some of its shares..

Maybe that will stablise the share price.


DYOR

Trading at a P/E of 5.8 based on 2009 forecasts. Shouldn't be much downside from here if the forecasts are correct as that is about where the lowest bear market P/E should be!

 

[dogwithflees1983]

BUY recommendation in the West Australian today...Hartley's value Carnavon at $1.15....so lots of upside if the mkt turns

 

[JTLP]

Nice work CVN.

Ann out: New Ventures management for long term prospects.

This makes me fuzzy inside lol. I want to be holding these in 5 years time and slapping high 5's with Ted whilst drinking Chrystallll and a Thai Palace.

 

[simo]

New well flows 2250 bopd .....check on marketwire Pan Orient Energy

Hope this makes a better impact on the share price than the last few announcements have made.

 

[fordxbt]

simo i cant find that news, do you have a url?
thanks
.................................................................

 

[MS+Tradesim]

Jul 24, 2008 06:00 ETNew Well NSE-A3 on Production at 2,250 bopd
CALGARY, ALBERTA--(Marketwire - July 24, 2008) - Pan Orient Energy Corp. (TSX VENTUREOE) -

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

NSE-A3 Horizontal Appraisal Well (60% WI & Operator)

The NSE-A3 horizontal well is free flowing oil from the main volcanic reservoir within the NSE central fault compartment at a stabilized rate of approximately 2,250 bopd with 0.1% water cut and choke settings/surface flowing pressures of 42/64" @120 psi on the tubing and 24/64" @130 psi on the casing.

The NSE-A3 horizontal appraisal well was drilled to a total measured depth of 897 meters, penetrating the top of the main volcanic target at a depth of 755 meters TVD at a location approximately 420 meters due north of the NSE-A1 surface location. A 60 meter horizontal section was drilled within the upper 6 meters of the approximately 180 meter thick main volcanic. On July 17, Pan Orient announced a 1,245 bopd discovery of a new upper volcanic/volcanic clastic reservoir in its NSE-A1 well. This newly discovered productive zone at NSE-A1 was also encountered in NSE-A3, and drilled though, exhibiting high mud gas readings and good oil shows.

L44-C Vertical Appraisal Well (60% WI & Operator)

The L44-C vertical appraisal well is currently drilling ahead at a depth of approximately 1,000 meters through and towards multi-zone objectives within the F and G sandstones and a deeper "WB-1" volcanic at a location 1.15 kilometers north of the POE-6 oil discovery and within the POE-6 fault compartment. Oil shows and elevated mud gas readings have been observed at a number of stratigraphic levels while drilling. The WB-1 "Deep" volcanic reservoir is anticipated to be encountered at a depth of approximately 1,250 meters.

L44-C is part of a multi-well appraisal program that is intended to define the potential of sandstone and volcanic reservoir targets in the up dip portion of the POE-6 and Wichian Buri fault compartments for future vertical and horizontal infill drilling. L44-C drilling is anticipated to be completed within approximately 10 days.

NSE-A4 New Horizontal Appraisal Well (60% WI & Operator)

The NSE-A4 horizontal appraisal well is currently drilling ahead at a depth of approximately 120 meters towards the top of the main volcanic reservoir objective at a subsurface location approximately 350 meters northeast of the NSE-A drilling pad, within the NSE central fault compartment. Drilling is anticipated to be completed within approximately 14 days.

SUMMARY

The high deliverability NSE-A3 flow rates, combined with the new zone discovery at NSE-A1 announced one week ago, provide an exceptional start to the main NSE central fault compartment development that is now underway. The multi-well drill pad containing NSE-A1, NSE-A3, and NSE-A4 was the first of its kind in Pan Orient's development plan. There is currently one additional multi-well drill pad where construction has been completed, three additional multi-well drill pads that are under construction plus another three multi-well drill pads where the land has been purchased and construction is about to commence.

http://www.marketwirecanada.com/mw/rel_ca.jsp?id=882322&k=pan orient

 

[JTLP]

YEEEEIIIII HAAAAA

SCHWING...

What's that now...2,250 + 1,245 = 3495 * CVN interest = 1398 BOPD in the last week!

Very very nice CVN...all adding up to a beautiful quarterly and rolling on to meet their EOY quota. Too bad JP Morgan are selling out now but eh...hopefully this attracts bigger and better attention!

L44-C looks pretty promising also...hope they crack some more oil there...might give us a rise and head back to GG's wave 3 target (LOL i think that is all but lost now).

Could NSE-A4 make a potential 3 from 3 from NSE???

CETTA CHANG CHANG IN THE BANK!!!

Let's get some true value reflected in CVN now.

 

[kenny]

Ted Jacobsen bought 100000 shares yesterday at 47.5c.

Anyone want to comment? Showing leadership/commitment and a signal to follow closely or a small gesture that's unlikely to slow the slide?

Cheers,

Kenny

 

[Rob 17]

Its a good sign. Although its small parcel it sends the message that he has confidence in the direction the company is going.

Id hate to think what would have happened if we didnt have good flow results the past two annoucements.

Most stocks if not all have been hit in this market. It will take time for the market to settle than quality stocks will be back in favour. Lets hope CVN can keep coming out with solid figures. I think it can go up as quickly as it has come down. I bought in at 52 cents.

All in my opinion.

DYOR

 

[Pigsy]

What's wrong with this stock? It falls when the petrol price rises and falls when the petrol price drops. Even today when the overall market has risen 2% it's still lost 1%.
Just for the technically minded if the price falls to 0.42 it will be a 100% Fibonacci retracement from the low of March 11. If it can't find support there it mind not find support again until 10 cents.

 

[Rob_ee]

What's wrong with this stock? It falls when the petrol price rises and falls when the petrol price drops. Even today when the overall market has risen 2% it's still lost 1%.
Just for the technically minded if the price falls to 0.42 it will be a 100% Fibonacci retracement from the low of March 11. If it can't find support there it mind not find support again until 10 cents.

I don't believe that there is anything fundamentaly wrong with this stock
After all they are producing over 4000 bopd have (probably) 50 Mil in the bank ..report due tomorrow, excellent future exploration prospects...etc etc

In other words the current price is a joke.

The problem is that JPMorgan who own over 30 million shares are selling into the market having bought in the 50 -70 c range, so they are taking quite a loss.

Why are they doing this .... imo 2 possibillities, they are deliberately capping the price so they can buy in cheaper and have a lower average price or more likely like the other yank geniouses are in desperate need of money due to the sub-prime fiasco and have to sell to gain much needed funds.

IF and I repeat IF they are doing the forced selling its hard to say how many more millions thay have to sell, this has been going on all month.

So while I would NEVER ever buy a falling share in a NORMAL market environment, which this is not, I see this as a great buying opportunity.

Just how much cheaper it will get due to this forced/manipulative ?? selling is hard to say.

Its trading at a 60% discount of market analysts value.

Soon the JV will be producing 15000 bopd so a 43 cent current value seems like the greatest bargain of the year.

The above is my oppinion only and may be way of the mark sdyor

Rob

 

[Rob 17]

I tend to agree with Rob.

Why would anyone be selling this stock unless they are in a very desperate need of money. (sub-prime fiasco)

The last two results have added to reserves.

DYOR by the way great name Rob

 

[JTLP]

Yawn...CVN is so boring. Put it in your bottom drawer...come back in a few years and see what happens.

CVN has the Yayyyyyyy Yoooo...JP Morgan are just hampering the price. You can't do anything except sit on your hands...no point worrying about it.

 

[MS+Tradesim]

I must be missing something...where is the info coming from that this is J.P.Morgan selling out? I haven't found it in announcements or Hartley's latest report.

 

[Rob 17]

Carnavon Petroleum Limited (AU000000CVN8)
Appendix 180708.

JP Morgon 22/7/08 Ceasing to be a substantial holder

Balance as at 30 May 2008 34,000,000 5.05%


8-Jul-08 JPMAM(UK) Sell AUD 0.52 (2,084,000) 31,916,000 4.74%


Balance as at 18 July 2008 31,916,000 4.74%

 

[kenny]

Wow, that's some overhang for CVN. Have JPM continued to sell down though? The volumes going through are not huge most days.

Regards,

Kenny

 

[Rob 17]

"Have JPM continued to sell down though?"

Thats the million dollar question

We will find out in the next couple of weeks ...........

DYOR