CVN - Carnarvon Energy

[MS+Tradesim]

Could some-one tell me if severe mud losses is a good or bad thing please? mmm need 100 characters...

Technically, it just means it has good porosity so if oil is present it will flow easily. Off the top of my head all the good volcanic wells had severe mud losses, however some fairly mundane/non-commercial wells had the same feature.

 

[seasprite]

Could some-one tell me if severe mud losses is a good or bad thing please? mmm need 100 characters...

from www.oglinks.com/glossary.htm

Lost circulation :
Loss quantities of whole mud to a formation, usually cavernous, fissured, or coarsely permeable beds. It is indicated by the complete or partial loss of drilling mud returns. Until the zone in which the drilling fluid has been lost is sealed off, drilling cannot be resumed in most cases.

 

[seasprite]

JP Morgan have steadily increased their holdings from 31.916m (29 Aug 08) to 40.845m shares (29 Oct 08) . It is also good to see ANZ nominees have returned to increase their holdings to 17.617m (29 Oct 08).
Nil debt with 41m cash on hand end of Sept quarter , leaves CVN in a very good position to weather the storm.

 

[magnale]

Thank you for that re-assuring comment !hm ... nothing more to add but I do take note of some comments more than others ..

 

[seasprite]

Thank you for that re-assuring comment !hm ... nothing more to add but I do take note of some comments more than others ..

Today's latest broker report (Hartley) values CVN at $1.00 see www.carnarvonpetroleum.com (31/10/08)

 

[eddyeagle]

Anyone on these forums topping up CVN at these levels?

My train of thought is that with oil having taking a massive hit, stocks having taken a massive hit, but CVN continuing to grow and reach targets (aiming for 6000bopd by end of 2008), for the long term investor wading into the market now, the returns could be fruitful...

Thoughts?

 

[seasprite]

Anyone on these forums topping up CVN at these levels?

My train of thought is that with oil having taking a massive hit, stocks having taken a massive hit, but CVN continuing to grow and reach targets (aiming for 6000bopd by end of 2008), for the long term investor wading into the market now, the returns could be fruitful...

Thoughts?

Once the big guns are content with their holdings , I imagine we may see some good movement in the share price .

 

[doogie_goes_off]

Up 4c today on turnover of 4M shares, so I think any appreciation in oil price versus $AUD/$US rate should see CVN creep higher, hopefully back to 50c + days.

 

[seasprite]

Peter Kenneth Judge reduced holdings by 1.4m shares on 30th & 31 Oct which was announced today . The market was initially stalled by the news but then continued on it's merry way .

National nominees look to have taken up the slack by increasing their holdings by 3.8m to 28m and Athol Steel have steadily increased their holdings from 4.6m (29 Aug 08) to 6.8m (31/10/08) .

 

[seasprite]

for actual holdings of CVN top 20 refer to their website

http://www.carnarvonpetroleum.com/about_us/?pg=6

 

[magnale]

Thanks for your interesting information .... very much appreciated particularly in these uncertain times, when madness seems to have taken hold !

 

[Garpal Gumnut]

Technically I have always had a soft spot for cvn.

When it goes it goes, and recently it has been all down.

I have lost lots trying to pick the bottom of some good stocks but I am back in again in cvn as of yesterday buying at .33c

My reasons are a great deal of support at 25c an old resistance level in jun jul 2007.

Secondly a recent descending triangle looked as if it would take cvn below 25c, this failed and it didn't.

Then there was an attempt again to broach 25c again which failed.

A chart is enclosed.

gg

 

[Garpal Gumnut]

Not much volume yesterday on the up move.

there may be some support at the 27-30c level

Lets see how it goes Monday.

gg

 

[seasprite]

Not much volume yesterday on the up move.

there may be some support at the 27-30c level

Lets see how it goes Monday.

gg

welcome back gg , CVN are definitely one of my top 5 picks , recession or no recession they will still be making a profit.

Im personally expecting some news out this week on drilling results for NSE-D2 and A4. Although A4 has been a problem to drill , I only see it as good news , especially with the largest fractures encountered to date and live oil shows to service. So crossing fingers we have more good news to come.

 

[seasprite]

investor update release- november 11 /2008 refer website for download

http://www.carnarvonpetroleum.com

 

[seasprite]

CVN interest in EP 321 & EP 407 refer to video presentation at latent petroleum website
http://www.latentpet.com/video.asp

 

[1234]

It's one of those stocks GG. I agree..

I bailed out at a touch over 40 a while back.. I can't see much happening until next year as far as gains like we have seen previous.

This is all due to the drilling campaign, linked to the Thai fiscal scheme + the global debacle as it stands..

Director Judge aint helping sentiment. The sooner he sells off all he wants to the better off everyone will be.. Doesn't bode too well for investor confidence..

Good luck. .25 is a good buy, it'll test there again imo.. Ann is late and there's not too much promise in the last one the way I read it.

 

[seasprite]

Director Judge aint helping sentiment. The sooner he sells off all he wants to the better off everyone will be.. Doesn't bode too well for investor confidence..

Mr Judge has his own reasons for selling . I would be worried if CVN wasn't performing , however as you will see in my previous posts the top 20 are increasing their holdings by multiple times of Mr Judge's reduction . I don't think director selling is the issue in this case , he just has a name for someone to quote , if all directors were doing the same then warning bells would be ringing , oil price is the main culprit in my opinion and USA's continuous crying spurts.

 

[JTLP]

CVN is very interesting. Volume seems to be picking up...report from intersuisse out (spec buy)...investor presentation out...hmm.

They keep making mention of new ventures in Thai and S.E Asia...but come on already...lets beef this company up.

Are there any other Aussies in thailand that might feel CVN's wrath?

Also, what happened to securing the 3rd Rig in August? Not enough drilling to go round?

Sadly on holidays so can't afford to get zi fingers dirty (not that she moves fast anyway)...

ALSO

I did like in the investor presentation the fact that they pointed out when oil was $100 AUD and the relevant SP at each time.

JTLP

Sorry about the incoherent message...

 

[magnale]

JTLP... I'm baffled,could you be a little more specific? "Sorry about being incoherent"...yep that is for sure .