Australian (ASX) Stock Market Forum

CVN - Carnarvon Energy

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Miner said:
Barney
Does anyone know where Agentm is now ?
He used to be a strong poster of many threads including SBR and some oil shares. Do not see his posting for a few years. same with Hangseng - a great supporter of PEN.
By the way, I am not complaining or bragging about CVN. It is the only one on my portfolio has given me 375% return in less than one year. I have bought it a few years ago and sold it. Sold off CVN once it doubled the investment as I was nervous but all of my CVN is at no cost.
I stuffed up on AGO, GID, IRL and few others - those investments are peppercorn value.
Click to expand...

Pleased you've had a good win on CVN @Miner ….. We all need the odd CVN to keep the trading account in the green:)

No idea regards Agentm … I wonder whether @Joe Blow could try to track him down because his Oiler knowledge was spectacular. I think Hangseng may have copped a bit of flack over PEN when it hit the fan after Fukushima but that was out of everyone's control …. I suspect he did ok out of PEN but not as well as he could have ….. Lots of good posters go MIA unfortunately.
 
Miner said:
Barney
Does anyone know where Agentm is now ?
He used to be a strong poster of many threads including SBR and some oil shares. Do not see his posting for a few years. same with Hangseng - a great supporter of PEN.
By the way, I am not complaining or bragging about CVN. It is the only one on my portfolio has given me 375% return in less than one year. I have bought it a few years ago and sold it. Sold off CVN once it doubled the investment as I was nervous but all of my CVN is at no cost.
I stuffed up on AGO, GID, IRL and few others - those investments are peppercorn value.
Click to expand...
Correction - I sold off only 33% of my holding after the first trading halt was cleared to have zero cost of the balance 2/3rd investment. Will watch the market before selling off. But capital gains will take half of the profit.
 
barney said:
Pleased you've had a good win on CVN @Miner ….. We all need the odd CVN to keep the trading account in the green:)

No idea regards Agentm … I wonder whether @Joe Blow could try to track him down because his Oiler knowledge was spectacular. I think Hangseng may have copped a bit of flack over PEN when it hit the fan after Fukushima but that was out of everyone's control …. I suspect he did ok out of PEN but not as well as he could have ….. Lots of good posters go MIA unfortunately.
Click to expand...

thanks Barney. I am sure Joe will track down Agentm.
Regarding PEN - yes unfortunate. Hangseng put lots on that. Probably became one of the top 20 holders then. But uranium shares now returning back with clean energy. WHich does mean bad days for oilers.
 
barney said:
No idea regards Agentm … I wonder whether @Joe Blow could try to track him down because his Oiler knowledge was spectacular.
Click to expand...

Unfortunately, Agentm hasn't logged into his account since 2015. I'm not sure why this is the case or whether he will return to ASF in the future. We will just have to consider him MIA for the moment and hope he comes back at some stage.
 
Miner said:
thanks Barney. I am sure Joe will track down Agentm.
Regarding PEN - yes unfortunate. Hangseng put lots on that. Probably became one of the top 20 holders then. But uranium shares now returning back with clean energy. WHich does mean bad days for oilers.
Click to expand...
OT
(....competitors boarding up, world demand increasing, production technique maybe change, US senate wanting US sourced...) watching and reading......
 
I believe they found a bit of oil recently.

The chart below is part of a research project and should not be considered a recommendation to buy this stock. If you want to read more about the project log in to read the P2 Weekly Portfolio thread.

Setup: High volume bullish bar, off support Grade A as the initial risk is wide
Buy limit: 0.37, iSL 0.31, initial target 0.60

cvn200119.PNG
 
The recent capital raise was for 151Mill shares at 0.33. The prior closing price was 0.37 and I would have expected to see the price fall approx 10% after the event. However I notice that it didn't and has risen higher since then. IMO that's very bullish. They think they've got a lot of oil down there but they don't know how big.

cvn1903.PNG
 
CVN closed @ $0.435 and appears to be trending sideways while they wait for the drill rig to be mobilised to site.

Drilling due next month as per article below.


https://www.pipeliner.com.au/2019/04/17/dorado-drilling-set-for-may/

Dorado drilling set for May
17 April 2019

Joint Venture (JV) partners Santos and Carnarvon Petroleum will commence a three well drilling program at the Phoenix Project next month.

Starting with the Dorado-2 appraisal well, the JV’s 2019 drill campaign will also include the Roc South-1 exploration well, situated 13 km from Dorado, and the Dorado-3 appraisal well.

One of the most closely watched Australian oil prospects in recent times and located on Western Australia’s northwest shelf, Dorado-1 made headlines last year after the oil discovered in the area was described as “staggering”.

In the company’s quarterly report, Carnarvon said the Noble Tom Prosser drill rig is currently in the nearby Carnarvon basin and will move to the Dorado location shortly.

Carnarvon said the upcoming drill campaign will be instrumental in achieving a final investment decision on the Phoenix Project, which is aimed for the end of the next calendar year.

Carnarvon possesses a 20 per cent interest in the project, while operator Santos holds the remaining 80 per cent after its 2018 purchase of Quadrant Energy.​
 
CVN is inching towards its goal.
Director buying https://www.asx.com.au/asxpdf/20190416/pdf/444btrdf3tvyrq.pdf on 16 April
Investor presentation https://www.asx.com.au/asxpdf/20190418/pdf/444dxnvd89mpzr.pdf 18 April
Drill moved news published today 29 April https://www.asx.com.au/asxpdf/20190429/pdf/444lpw0ndfj7ns.pdf - this is a most wanted step with all hopefuls to watch for the outcome. It will also affect STO holders due to Quadrant holding .
A holder - bought and sold and if it clicks will hold for longer .
If I am allowed to speculate here without getting whip from @Joe Blow - could there be a merger or acquisition of CVN by STO in medium term ?
Being holder for both of them, it is my early morning day dream :)
Also posted on STO
 
June Stock Tip

Drilling update released on the 21st May with no issues mentioned

upload_2019-5-25_6-56-17.png


Price is trending sideways as we are all waiting on news from the Dorado-2 appraisal well.

upload_2019-5-25_6-58-59.png
 

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