CVN - Carnarvon Energy
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In post #747 Grace quotes Bell Potters giving CVN a target of 87c. And for some time Hartley's have had a target of $1.15.
I think it means when a large institute wants to get out they find someone thats willing to take the shares off their hands instead of dumping them on the market. When your buying that many shares i guess a discount makes it a but more attractive.
Lets hope its JP Morgan Chase & Co and its affiliates selling the rest of their holdings.
Im glad they dont manage my money.
DYOR Do your Own Research.
Garpal Gumnut
Ross Island Hotel
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The last time CVN was .65 was around the 20th of june 2008. On the 2nd of July 2008 u posted u "were still bullish on it". ???????
I never take comments for more than they are worth but its just interesting.
DYOR
Sorry was out at .45, a typo! , in retrospect, not a good move , or maybe was, if it moves sideways and breaks out on the upside , I'll climb on again, I was bullish until it started breaking down.
I agree comments are worth sba. Its money that does the talking.
gg
Big Ted is buying more. He seems to be the only one at the moment.
Glad I have faith in him.
Oil coming off the boil, but suspect that is only a short-term thing IMO.Just did a quick count from our last ann...drilling to have been completed in 10 and 14 days respectively or the 2 wells. We are now into day 18 and no sign of an ann on marketwire.
Hopefully it is positive because CVN continues to look weak. We may have seen the last of the JP shares dished out today with some larger then usual volume and a hefty 4 mil trade.
Oil price firming tonight...let's hope it can settle in the 120's
Keep buying up ted...you will either go down as a legend or the biggest idiot in history (but with all those years in the oil industry...ahhh you decide)
Hopefully it is positive because CVN continues to look weak. We may have seen the last of the JP shares dished out today with some larger then usual volume and a hefty 4 mil trade.
Oil price firming tonight...let's hope it can settle in the 120's
Keep buying up ted...you will either go down as a legend or the biggest idiot in history (but with all those years in the oil industry...ahhh you decide
)MORE MORE MORE!!!
TEDDY!
Good to see teddy still buying more at these prices...let's see if we can get some rallying behind him from other directors. Could this be an indirect route of increase top 20 holdings from all (even though they are relatively small parcels being purchased).
CVN is looking very wobbly now...dipping as low as 35 cents to rest on 36. Oil is getting hammered lately but I didn't think CVN would cop this much brunt.
I guess the timing of JP's exit was the worst thing to happen to holders
TEDDY!
Good to see teddy still buying more at these prices...let's see if we can get some rallying behind him from other directors. Could this be an indirect route of increase top 20 holdings from all (even though they are relatively small parcels being purchased).
CVN is looking very wobbly now...dipping as low as 35 cents to rest on 36. Oil is getting hammered lately but I didn't think CVN would cop this much brunt.
I guess the timing of JP's exit was the worst thing to happen to holders
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Seems to be another fill-in-the-blanks announcement in order to calm the selling. They did this a few announcements ago. Big time lag between real anns. so stick out something to try and stabilise the s.p. Hasn't helped.
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The drilling fluid loss refers to a highly fractured (think highly porous, channels, wide cracks) section of the geology where the drilling fluid simply runs out into the cracks instead of staying in the drilling hole where it should be. High fluid loss in previous wells has often (but not always) meant larger oil flows. There is a good chance (but not 100% certain) that this will be the case in well NSE-A4 as it is a development well into the main section of the Na Sanun east reservoir.
The L-44C with oil shows and elevated mud gas readings means there are hydrocarbons present but it won't be known if it's commercial until the testing is finished.
You can find out more about oil shows and mud gas on the net. Here's a google book with some info:
http://books.google.com.au/books?id...=X&oi=book_result&resnum=4&ct=result#PPA64,M1
The L-44C with oil shows and elevated mud gas readings means there are hydrocarbons present but it won't be known if it's commercial until the testing is finished.
You can find out more about oil shows and mud gas on the net. Here's a google book with some info:
http://books.google.com.au/books?id...=X&oi=book_result&resnum=4&ct=result#PPA64,M1
For those living on the other side of the country, Ted is talking at a conference in Freemantle. Would be nice to attend if it was a little closer.
http://www.riuconferences.com.au/conferences/tgoc/forms/Programme.pdf
2 - 3 September, Good Oil Conference. Ted speaks on 2/9/08.
I notice a few of my coal seam gas favs are there too.
http://www.riuconferences.com.au/conferences/tgoc/forms/Programme.pdf
2 - 3 September, Good Oil Conference. Ted speaks on 2/9/08.
I notice a few of my coal seam gas favs are there too.
mmm...that ann was just a market soother...and it got smashed on it!
I was hoping to see some more director interest notice's. SOMETHING!
The only thing that can turn CVN around now is an increase in oil $$$ and maybe some big buying from an insto (so long as they hold on to them)
I'm holding but ergh (first time i've used banghead too!)
JTLP
I was hoping to see some more director interest notice's. SOMETHING!
The only thing that can turn CVN around now is an increase in oil $$$ and maybe some big buying from an insto (so long as they hold on to them
)I'm holding but ergh (first time i've used banghead too!)
JTLP
doogie_goes_off
disbelieve if you can
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MS+Trade Sim – It’s definitely not a just fill in the blanks, it’s a “here’s an update, we don’t have results yet because we can’t work miracles. Exploration is not drill and oil spouts out of the ground, it’s hard yards and trying to tame one of natures hardest task masters (the crust of planet earth). It is a real announcement that tells us “don’t write off the current exploration it’s still promising”, which may lead us to assume it was just a market soother, however I like to think CVN and a couple of other downward resource companies I hold are more genuine and are keeping the market abreast of any development, not just the headlines which can mask substance anyway. I am now more confident from the feel of the results (not a certainty, so the prediction is hollow DYOR) that we are in for 200-600 barrels of oil net to CVN in the next 3 weeks. I have grabbed a couple more at this largely discounted SP due to Oil price sentiment being sh*te.
If the market will not stabilise then this is a buying opportunity for me! High fluid loss = potential for NSE-A4 to produce a substantial flow. L44-C is still a bit too thin on detail, so someone else can ‘fill in the blanks’ if they would like to speculate further, but I do guess low flow.
way. I am now more confident from the feel of the results (not a certainty, so the prediction is hollow DYOR) that we are in for 200-600 barrels of oil net to CVN in the next 3 weeks. I have grabbed a couple more at this largely discounted SP due to Oil price sentiment being sh*te.If the market will not stabilise then this is a buying opportunity for me! High fluid loss = potential for NSE-A4 to produce a substantial flow. L44-C is still a bit too thin on detail, so someone else can ‘fill in the blanks’ if they would like to speculate further, but I do guess low flow.
Here is the latest Bell Potter report, and I'm not sure if it has been posted here yet.
Notice that it is trading on a p/e ratio of 5.7 for 09 earnings, and 4 for 2010 earnings.
http://www.carnarvonpetroleum.com/docs/Patersons170706.pdf
Notice that it is trading on a p/e ratio of 5.7 for 09 earnings, and 4 for 2010 earnings.
http://www.carnarvonpetroleum.com/docs/Patersons170706.pdf
Garpal Gumnut
Ross Island Hotel
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There has been a significant technical change in cvn over the recent past trading days. I have decided to go back in at .37 and below are my reasons.
There is now a divergence between the price and the rsi on large volume indicating that the big money is coming back in to cvn.
I expect it to trade sideways or move up considerably in the next few weeks.
Any retracement to under .33 would be reason for me to reconsider.
gg
There is now a divergence between the price and the rsi on large volume indicating that the big money is coming back in to cvn.
I expect it to trade sideways or move up considerably in the next few weeks.
Any retracement to under .33 would be reason for me to reconsider.
gg
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http://www.moneymorning.com.au/20080819/a-new-trend-at-carnarvon.html#more-644
Interesting article today re CVN for those interested
Interesting article today re CVN for those interested
Garpal Gumnut
Ross Island Hotel
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A very nice bounce off .345
Lets see if it continues to make higher highs and higher lows, to commence a new upward trend.
gg
