Garpal Gumnut
Ross Island Hotel
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I don't agree.
Director selling.
Price down to old support/resistance.
I'm out on open on Monday.
gg
CVN - Carnarvon Energy
- Thread starter yogi-in-oz
- Start date
I don't agree.
Director selling.
Price down to old support/resistance.
I'm out on open on Monday.
gg
Chart doesn't look good I must admit. However, plenty of results is due, or is that overdue. Two new wells have been spudded, awaiting testing.
Ted has been buying shares (although not as much as Judge has been dumping).
If I dump too, I can tell you what is going to happen!
It will go up!
Garpal Gumnut
Ross Island Hotel
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Chart doesn't look good I must admit. However, plenty of results is due, or is that overdue. Two new wells have been spudded, awaiting testing.
Ted has been buying shares (although not as much as Judge has been dumping).
If I dump too, I can tell you what is going to happen!
It won't mate.
follow your gut feelings.
ignore below
fee fi fo fum i now have one hundred characters
gg
One could say follow your gut feeling for getting into CVN in the first place??
Fee fi fo fum you will regret if you dump this one.
lol.. as u will gg, do as u will. I've still got some skin left on my teeth..
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I'm with you 1234, i'm definately noy getting rid of mine. I heartily believe in CVN.
Every broker report i've read believes they're trading at a significant discount to what they're worth even if oil dropped & stayed below $100. They can't all be wrong.
The director who sold has something like 14 mil shares doesn't he? so selling a mil is not necessarily an indication of something wrong, surely he'd sell more than 7-8% of his holdings if that was the case.
Theres always going to be an arguement over fundamentals vs t/a, & with the market at the moment i think t/a is winning, everyone is so scared they see something bad on the charts & bam they're outta there!
So there is a chance the price could drop further but i truly believe the fundamentals will prevail on this one.
Every broker report i've read believes they're trading at a significant discount to what they're worth even if oil dropped & stayed below $100. They can't all be wrong.
The director who sold has something like 14 mil shares doesn't he? so selling a mil is not necessarily an indication of something wrong, surely he'd sell more than 7-8% of his holdings if that was the case.
Theres always going to be an arguement over fundamentals vs t/a, & with the market at the moment i think t/a is winning, everyone is so scared they see something bad on the charts & bam they're outta there!
So there is a chance the price could drop further but i truly believe the fundamentals will prevail on this one.
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$0.28 today post the Lehman Brothers collapse etc. Ouch! That hurts. I'll have to buy more. .
That hurts. I'll have to buy more. .$0.28 today post the Lehman Brothers collapse etc. Ouch!
I be waiting when they go below the .20cent mark to buy more, between 15 and 20 cents will be the new support
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Yeh i'd buy more now if i had some spare money!
Massive slap in the face all round today, one of my others was down 15% at one stage today.
Massive slap in the face all round today, one of my others was down 15% at one stage today.
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Gosh I never thought CVN could fall below 30 cents again, I guess my patience is finally rewarded. I waited nearly one year to get a parcel.
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Pan Orient, Thailand: NSE-A2 and NSE-B2 Test at Combined 3,480 BOPD
CALGARY, ALBERTA--(Marketwire - Sept. 22, 2008) - Pan Orient Energy Corp. (TSX VENTUREOE) -
NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
The NSE-A2 and NSE-B2 wells are free flowing oil from the main volcanic reservoir within the NSE central fault compartment at a combined stabilized rate of approximately 3,480 gross barrels of oil per day (2,088 net to Pan Orient) with less than 0.1-per-cent water cut.
NSE-B2 appraisal well (60-per-cent working interest and operator)
The NSE-B2 appraisal well was drilled approximately 80 meters due west of the NSE-B drill pad encountering the top of the main volcanic reservoir at a depth of 782 meters true vertical depth ("TVD"). A total measured thickness of 75 meters of volcanic reservoir was penetrated with mud losses of 156 bbls and oil shows observed while drilling the reservoir section.
The well tested at a stabilized rate of 1,340 bopd with a less than 0.1% water cut. Flowing casing head and tubing head pressures were both 75 psig respectively on 32/64" choke settings. Upon completion of the drilling of B2, the rig was immediately skidded over onto the B1 location to deepen this well.
NSE-A2 appraisal well (60-per-cent working interest and operator)
The NSE-A2 appraisal well was drilled approximately 350 meters south of the NSE-A drill pad encountering the top of the main volcanic reservoir at a depth of 757 meters TVD. A total measured thickness of 114 meters of volcanic reservoir was penetrated with mud losses of 283 bbls and oil shows observed while drilling the reservoir section.
The well tested at a stabilized rate of 2,140 bopd with a less than 0.1% water cut. Flowing casing head and tubing head pressures were 115 and 78 psig respectively both on 36/64" choke settings. Upon completion of the drilling of A2, the rig was immediately skidded over onto the A4 location to deepen this well.
NSE-A4 appraisal well (60-per-cent working interest and operator)
The NSE-A4 appraisal well was initially drilled to a total measured depth of 923 meters (732.6 meters TVD), penetrating the top of the upper volcanic target at a depth of 720.5 meters TVD at a location approximately 350 metres northeast of the NSE-A1 surface location. A 35-metre-thick (measured thickness) upper volcanic section was penetrated and, as indicated by the loss of over 23,000 barrels of drilling fluid, was highly fractured. Testing resulted in the recovery of 100% gas from what is interpreted as a small (less than 1 square kilometer), and thin (approximately 10 meter) gas cap at this structurally high position. The well has since been deepened into the underlying oil leg of the main volcanic target and is currently drilling ahead within volcanics at a depth of 738m TVD and experiencing massive 500+ bbl/hr drilling fluid losses with no indication of gas (below an interpreted gas/oil contact). Total depth is anticipated to be reached within the next 72 hours, with testing to take place shortly thereafter.
NSE-B1 appraisal well (60-per-cent working interest and operator)
The NSE-B1 appraisal well encountered the top of the main volcanic target at a depth of 713 meters TVD, with drilling suspended after penetrating only 8 meters of what was originally interpreted to be the upper volcanic zone. The decision was made to conduct an isolated test of this very thin section prior to drilling ahead, which resulted in gas and oil being tested at unstabilized rates.
The well was deepened and is currently logging after reaching a total depth of approximately 822 meters measured depth at a subsurface location approximately 100 meters south of the NSE-B drilling pad and across a large fault and at the ultimate crest of the NSE central fault compartment. Approximately 87 meters of total volcanic section has been drilled and severe drilling fluid losses of over 240 bbls per hour were observed along with oil shows. Logging is anticipated to be completed in the next 48 hours, at which time testing over the entire 87 meter volcanic interval will commence.
L44-C appraisal well (60-per-cent working interest and operator)
The L44-C vertical appraisal well was drilled to a depth of 1,210 metres through multizone objectives within the F and G sandstones, and a deeper 210-metre-thick WB-1 volcanic, at a location 1.15 kilometres north of the POE-6 oil discovery and at the extreme northern edge of the 3P reserve envelope within the POE-6 fault compartment. Oil shows and elevated mud gas readings were observed at a number of stratigraphic levels while drilling and lost circulation was observed over two intervals within the WB-1 deep volcanic.
Minor indications of oil and gas along with large quantities of water were observed from the uppermost interval of the WB-1 deep volcanic. Two deeper tests of the same target zone recovered only large quantities of water. The main G sand target was tight with a small sample of oil recovered at surface and a small oil sample was also recovered from the shallower F sand, which had no previous reserves assigned to it.
The well has been suspended with a side track from the existing well bore planned, before year end, into the adjacent Wichian Buri fault compartment targeting both the F and G sandstone reservoirs in addition to a volcanic target not yet tested by any well to date.
Summary
NSE development drilling results continue to be at the upper end of management expectations of between 1,000 to 2,000 bopd per well. Two wells, NSE-A4 and NSE-B1, both located in the highest crestal position of the NSE central fault compartment will be tested shortly and another five to eight wells will be drilled from the NSE C, D and E drill pads immediately after NSE-A4 and NSE-B1 wells have completed drilling. In addition to the NSE development wells, management anticipates the drilling of approximately four wells targeting the large resource base located directly adjacent to the 2P and 3P reserve category areas of the NSE field, converting these large prospective resources to reserves if successful. The drilling of a number of high impact exploration wells is also planned at Bo Rang, L44-W (adjacent to Bo Rang), L44-C sidetrack (discussed above) and Si Thep deep, as timing allows prior to year end.
CALGARY, ALBERTA--(Marketwire - Sept. 22, 2008) - Pan Orient Energy Corp. (TSX VENTURE
OE) -NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
The NSE-A2 and NSE-B2 wells are free flowing oil from the main volcanic reservoir within the NSE central fault compartment at a combined stabilized rate of approximately 3,480 gross barrels of oil per day (2,088 net to Pan Orient) with less than 0.1-per-cent water cut.
NSE-B2 appraisal well (60-per-cent working interest and operator)
The NSE-B2 appraisal well was drilled approximately 80 meters due west of the NSE-B drill pad encountering the top of the main volcanic reservoir at a depth of 782 meters true vertical depth ("TVD"). A total measured thickness of 75 meters of volcanic reservoir was penetrated with mud losses of 156 bbls and oil shows observed while drilling the reservoir section.
The well tested at a stabilized rate of 1,340 bopd with a less than 0.1% water cut. Flowing casing head and tubing head pressures were both 75 psig respectively on 32/64" choke settings. Upon completion of the drilling of B2, the rig was immediately skidded over onto the B1 location to deepen this well.
NSE-A2 appraisal well (60-per-cent working interest and operator)
The NSE-A2 appraisal well was drilled approximately 350 meters south of the NSE-A drill pad encountering the top of the main volcanic reservoir at a depth of 757 meters TVD. A total measured thickness of 114 meters of volcanic reservoir was penetrated with mud losses of 283 bbls and oil shows observed while drilling the reservoir section.
The well tested at a stabilized rate of 2,140 bopd with a less than 0.1% water cut. Flowing casing head and tubing head pressures were 115 and 78 psig respectively both on 36/64" choke settings. Upon completion of the drilling of A2, the rig was immediately skidded over onto the A4 location to deepen this well.
NSE-A4 appraisal well (60-per-cent working interest and operator)
The NSE-A4 appraisal well was initially drilled to a total measured depth of 923 meters (732.6 meters TVD), penetrating the top of the upper volcanic target at a depth of 720.5 meters TVD at a location approximately 350 metres northeast of the NSE-A1 surface location. A 35-metre-thick (measured thickness) upper volcanic section was penetrated and, as indicated by the loss of over 23,000 barrels of drilling fluid, was highly fractured. Testing resulted in the recovery of 100% gas from what is interpreted as a small (less than 1 square kilometer), and thin (approximately 10 meter) gas cap at this structurally high position. The well has since been deepened into the underlying oil leg of the main volcanic target and is currently drilling ahead within volcanics at a depth of 738m TVD and experiencing massive 500+ bbl/hr drilling fluid losses with no indication of gas (below an interpreted gas/oil contact). Total depth is anticipated to be reached within the next 72 hours, with testing to take place shortly thereafter.
NSE-B1 appraisal well (60-per-cent working interest and operator)
The NSE-B1 appraisal well encountered the top of the main volcanic target at a depth of 713 meters TVD, with drilling suspended after penetrating only 8 meters of what was originally interpreted to be the upper volcanic zone. The decision was made to conduct an isolated test of this very thin section prior to drilling ahead, which resulted in gas and oil being tested at unstabilized rates.
The well was deepened and is currently logging after reaching a total depth of approximately 822 meters measured depth at a subsurface location approximately 100 meters south of the NSE-B drilling pad and across a large fault and at the ultimate crest of the NSE central fault compartment. Approximately 87 meters of total volcanic section has been drilled and severe drilling fluid losses of over 240 bbls per hour were observed along with oil shows. Logging is anticipated to be completed in the next 48 hours, at which time testing over the entire 87 meter volcanic interval will commence.
L44-C appraisal well (60-per-cent working interest and operator)
The L44-C vertical appraisal well was drilled to a depth of 1,210 metres through multizone objectives within the F and G sandstones, and a deeper 210-metre-thick WB-1 volcanic, at a location 1.15 kilometres north of the POE-6 oil discovery and at the extreme northern edge of the 3P reserve envelope within the POE-6 fault compartment. Oil shows and elevated mud gas readings were observed at a number of stratigraphic levels while drilling and lost circulation was observed over two intervals within the WB-1 deep volcanic.
Minor indications of oil and gas along with large quantities of water were observed from the uppermost interval of the WB-1 deep volcanic. Two deeper tests of the same target zone recovered only large quantities of water. The main G sand target was tight with a small sample of oil recovered at surface and a small oil sample was also recovered from the shallower F sand, which had no previous reserves assigned to it.
The well has been suspended with a side track from the existing well bore planned, before year end, into the adjacent Wichian Buri fault compartment targeting both the F and G sandstone reservoirs in addition to a volcanic target not yet tested by any well to date.
Summary
NSE development drilling results continue to be at the upper end of management expectations of between 1,000 to 2,000 bopd per well. Two wells, NSE-A4 and NSE-B1, both located in the highest crestal position of the NSE central fault compartment will be tested shortly and another five to eight wells will be drilled from the NSE C, D and E drill pads immediately after NSE-A4 and NSE-B1 wells have completed drilling. In addition to the NSE development wells, management anticipates the drilling of approximately four wells targeting the large resource base located directly adjacent to the 2P and 3P reserve category areas of the NSE field, converting these large prospective resources to reserves if successful. The drilling of a number of high impact exploration wells is also planned at Bo Rang, L44-W (adjacent to Bo Rang), L44-C sidetrack (discussed above) and Si Thep deep, as timing allows prior to year end.
Thats great news. Im glad i topped up last week
NSE-A4 appraisal well sounds interesting.
The well has since been deepened into the underlying oil leg of the main volcanic target and is currently drilling ahead within volcanics at a depth of 738m TVD and experiencing massive 500+ bbl/hr drilling fluid losses with no indication of gas (below an interpreted gas/oil contact).
Well done to the people that held on.
DYOR
Im glad i topped up last week NSE-A4 appraisal well sounds interesting.
The well has since been deepened into the underlying oil leg of the main volcanic target and is currently drilling ahead within volcanics at a depth of 738m TVD and experiencing massive 500+ bbl/hr drilling fluid losses with no indication of gas (below an interpreted gas/oil contact).
Well done to the people that held on.
DYOR
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Great news from CVN.. I havent sold any but have a bit of catching up to do to get back to my original position with buy in of 49c.. Hopefully this can get us back in the green !! Wish I had had more confidence to but when it was really low...
Thats very funny (picture Robie clutching his stomach with convulsive laughter)
:Lets look at the facts ... Over $40 million in the bank and rising daily.
Producing over 5000 (yes 5000) bopd so every 2 days another $1.5 Million in sales.
Say (the worst view) after taxes etc 30c per barell to CVN which translates to $1.5 Million in profit every week.
3 drills working continously and adding yet more oil with every new report.
Good luck for your 15-20c wait .
Even in this market enviroment there is a point past which sanity must prevail before the institutions get back on board.
Its like winning lotto , even buying in the mid 30 range.
Yes I hold heaps and quite happy doing so.
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- 21 September 2008
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Excellent full year result considering net production to CVN was only at 43% of projected by the end of the year ( CVN entitled 2600 bopd at end of June with projected net 6000bopd ).
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Well said, Rob. My sentiments (hopes?) exactly.
CVN has proven to be a real rollercoaster ride.
The taxes are always a factor unfortunately. More news soon hopefully.
Cheers,
Kenny
CVN has proven to be a real rollercoaster ride.
The taxes are always a factor unfortunately. More news soon hopefully.
Cheers,
Kenny
Thats very funny (picture Robie clutching his stomach with convulsive laughter)
Lets look at the facts ... Over $40 million in the bank and rising daily.
Producing over 5000 (yes 5000) bopd so every 2 days another $1.5 Million in sales.
Say (the worst view) after taxes etc 30c per barell to CVN which translates to $1.5 Million in profit every week.
3 drills working continously and adding yet more oil with every new report.
Good luck for your 15-20c wait .
Even in this market enviroment there is a point past which sanity must prevail before the institutions get back on board.
Its like winning lotto , even buying in the mid 30 range.
Yes I hold heaps and quite happy doing so.
- Joined
- 21 September 2008
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good write up about CVN , BPT HZN in the Australian Financial Review. "Analysts expect Carnarvon to achieve a profit of more than $50 million in 2008-09, representing earnings per share of about 8c"
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Any chance you could paste in a link or the article? Cheers!
- Joined
- 21 September 2008
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I tried to attach it to my post however that did not work . It is available on the carnarvon website though.
http://www.carnarvonpetroleum.com/
http://www.carnarvonpetroleum.com/
Pan Orient, Thailand: NSE-B1 Tests at 2,650 BOPD
CALGARY, ALBERTA--(Marketwire - Oct. 7, 2008) - Pan Orient Energy Corp. (TSX VENTUREOE) -
NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
NSE-B1 appraisal well (60-per-cent working interest and operator)
The NSE-B1 well has been drilled to a total measured depth of approximately 822 meters (approximately 713 meters TVD) at a subsurface location approximately 100 meters south of the NSE-B drilling pad and across a large fault and at the ultimate crest of the NSE central fault compartment. Approximately 87 meters of total volcanic section was drilled.
The well tested at a stabilized rate of 2,650 bopd with a 0.1% water cut. Flowing casing head and tubing head pressures were 190 and 130 psig, respectively, on 48/64" choke settings. Upon completion of the drilling of B1, the rig was moved to the NSE-D1 drilling location.
NSE-A4 appraisal well (60-per-cent working interest and operator)
The NSE-A4 appraisal well has reached a total depth of 787 meters TVD after penetrating the top of the target volcanic reservoir at 730 meters TVD. Severe mud losses were encountered while drilling, indicating extensive fracturing. Testing is anticipated to be completed within the next 10 days at which time test results will be announced. Upon completion of the current operation, the rig will be moved to the NSE-C1 well location which is 1,000 meters east of the NSE-B drill pad and targeting an area of possible reserves as defined in the year end 2007 NI 51-101 compliant reserves report.
NSE-D1 appraisal well (60-per-cent working interest and operator)
The NSE-D1 appraisal well, located approximately 455 meters north of the NSE-B drill pad is currently drilling ahead at a depth of 645 meters true vertical depth. Drilling is anticipated to be completed within 10 days.
I just keep topping up
CALGARY, ALBERTA--(Marketwire - Oct. 7, 2008) - Pan Orient Energy Corp. (TSX VENTURE
OE) - NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
NSE-B1 appraisal well (60-per-cent working interest and operator)
The NSE-B1 well has been drilled to a total measured depth of approximately 822 meters (approximately 713 meters TVD) at a subsurface location approximately 100 meters south of the NSE-B drilling pad and across a large fault and at the ultimate crest of the NSE central fault compartment. Approximately 87 meters of total volcanic section was drilled.
The well tested at a stabilized rate of 2,650 bopd with a 0.1% water cut. Flowing casing head and tubing head pressures were 190 and 130 psig, respectively, on 48/64" choke settings. Upon completion of the drilling of B1, the rig was moved to the NSE-D1 drilling location.
NSE-A4 appraisal well (60-per-cent working interest and operator)
The NSE-A4 appraisal well has reached a total depth of 787 meters TVD after penetrating the top of the target volcanic reservoir at 730 meters TVD. Severe mud losses were encountered while drilling, indicating extensive fracturing. Testing is anticipated to be completed within the next 10 days at which time test results will be announced. Upon completion of the current operation, the rig will be moved to the NSE-C1 well location which is 1,000 meters east of the NSE-B drill pad and targeting an area of possible reserves as defined in the year end 2007 NI 51-101 compliant reserves report.
NSE-D1 appraisal well (60-per-cent working interest and operator)
The NSE-D1 appraisal well, located approximately 455 meters north of the NSE-B drill pad is currently drilling ahead at a depth of 645 meters true vertical depth. Drilling is anticipated to be completed within 10 days.
I just keep topping up
