CVN - Carnarvon Energy

[Ferret]

Why aren't those at Santos listening to the the sage advice from ASF posters and lobbing a bid for this one?

Maybe they'll get the message during 2023, so CVN is a pick for the 2023 comp.

 

[Garpal Gumnut]

Why aren't those at Santos listening to the the sage advice from ASF posters and lobbing a bid for this one?

Maybe they'll get the message during 2023, so CVN is a pick for the 2023 comp.

One of my picks as well for 2023 @Ferret

A solid company with lotsa gas but no means to explore.

It should be $10-$20 by years end if the t/o specialists get a whiff.

gg

 

[Garpal Gumnut]

@debtfree I notice that CVN is one of the most picked stocks in the Y23 Comp.

I looked at the App 5B released yesterday and they have close to 5 yrs of funding left on the 8.7 statement.

Let us hope it can be taken over by someone who likes cash and gas.

gg

 

[debtfree]

@debtfree I notice that CVN is one of the most picked stocks in the Y23 Comp.

I looked at the App 5B released yesterday and they have close to 5 yrs of funding left on the 8.7 statement.

Let us hope it can be taken over by someone who likes cash and gas.

gg

I should of picked it instead of QGL ? nevermind, I've nearly got a year to come back .

 

[Garpal Gumnut]

CVN is my pick again, in the Feb 23 Comp.

There is enough gas in the Carnarvon basin to keep the Indonesian cousins ( all of them each evening ) cooking Nasi Goreng for at least one hundred years.

Let's trust it takes off this month.

gg

 

[UMike]

Volume is insanely low.

 

[Garpal Gumnut]

Volume is insanely low.

Yes it was low one day this week but it's recovered.

I've been in and out of CVN, both in my SMSF and in my Cigar Money Account CMA.

It has given me good profits, but it is a very annoying stock. Just as you think it may break out, up or down, it will continue sideways.

I pick it in comps and it presently sits in my CMA.

Anytime any FIFO's are at the hotel from the rigs or ships out that way I strike up a conversation ... Nada, nothing is happening.

From the looks of the enclosed chart, the RSI is diverging from price, it looks as if it may go down. But still it stubbornly remains at or 1 or 2 either side of 15c, for the better part of 6 month

s and today it is up a bit.

But then ...

gg

 

[UMike]

Been incredibly lucky with these on 2 occasions.
1.Sold out 2010. (Knew them from Thailand)
Bought back in as they were sliding. Got frustrated and bought a shyte load at about 8c.
2.Sold 2/3 in 2018.

You're right I can't pick this one at all. Just bottom draw stuff and wait.

 

[peter2]

CVN gets another regulatory approval and the buyers step in. The chart looks as bullish as I've seen for quite some time. I won't buy oilers myself.

 

[Miner]

CVN gets another regulatory approval and the buyers step in. The chart looks as bullish as I've seen for quite some time. I won't buy oilers myself.

View attachment 153021

@peter2 What's wrong with oilers?

 

[Dona Ferentes]

I looked at the App 5B released yesterday and they have close to 5 yrs of funding left on the 8.7 statement.

Let us hope it can be taken over by someone who likes cash and gas.

Or At least a part share to derisk ...


Highlights

- Binding agreement executed to divest a 10% interest in Carnarvon’s Bedout assets, including the Dorado field
- Cash consideration of US$146MM, comprising an upfront payment of US$56MM and a carry of US$90MM on Carnarvon’s forward expenditure, once a Final Investment Decision is made on the Dorado development
- Carnarvon’s debt financing process is continuing, and expected to provide the balance of funding for the Dorado development once financing is secured
- Following completion, Carnarvon to hold a pro-forma cash balance of approximately A$178 mill

 

[Ferret]

Some back-of-a-cigarette-pack calculations for this:

Seems CVN has sold nearly half the company for $US 146M - about $A 212M.
Reported in November that they had just over 1,800 M shares on issue.
So proceeds for each share is 212/1800 = 11.8c.
If this is half the company, each share in CVN is worth 23.6c.

After an initial bump in today's share price, it settled back unchanged at 15.5c.

Maybe they have sold out too cheap?

 

[UMike]

Much less than half.
Permit Current Following completion Dilution
WA-64-L 20% .......... 10% .................... 50%
WA-435-P 20% .......... 10% .................... 50%
WA-436-P 30% .......... 20% .......... .......... 33%
WA-437-P 20% .......... 10% .......... .......... 50%
WA-438-P 30% .......... 20% .................... 33%

It is also DE risked.
Do they not have other Irons on the fire?
So hopefully they are worth more than that.

 

[Ferret]

Do they not have other Irons on the fire?

Not much. Some biofuels joint venture with a mob called FutureEnergy Australia. That's it apart from the Bedout permits that are now diluted.

The other thing on my mind is that CVN is now less attractive as a takeover target since half of its Dorado share and 1/3 of its Pavo share have now been onsold.

 

[UMike]

CVN shares appear to be in a long-term bearish trend confirmed by multiple indicators. First, the 200-day moving average is falling and shows that demand for this stock is low. Second, the 5-day moving average is below the 50-day moving average. This, too, shows that sentiment is weak. Near-term, the stock has been rallying, however, it is too soon to know the effect that will have on the longer term trend.
Second worst Stock in my portfolio. Stick it back in the bottom draw!!!!!

 

[farmerge]

UMike if this is your second worst what is the worst. can't be as bad as mine Hills Industries. Only hold because it is as good as worthless. A good company gone down the gurgler

 

[Garpal Gumnut]

My turn everyone to carry CVN in this comp.

Plenty of Gas which seems out of favour with the Green cousins for some reason. Next they'll be checking everyone's undies.

Will it get taken over. 20c. would get a few weak holders.

60c. would get the majority.

Alas it may just slowly rise to $1.20 over the next 5 years and not get taken over.

gg

 

[DrBourse]

For todays Useless bit of Information – I humbly submit the following:………

IMO CVN is probably heading Lower in the ST…..

ST Indicators are not happy, most are in Range Trading Areas (see pages 36 – 43), and most are still falling Lower….

The current CVN SP has only ONE Support Line which is the Bottom Band of the Linear Regression Indicator (see pages 139-142)…. Any other Sup Lines date back to the Early 2000’s, and as such, they are pretty useless……Then there are 10 Resistance Lines (see page 35) above the current SP up to $0.335c……

IMO CVN is in “The Basket Case” Category – Unless there are a few “Earth Shattering” Announcements on the horizon….

ATM CVN is On The Floor Below My Bottom Drawer, all I can say is “Pray for a Predator”

Cheers….

DrB.

 

[Miner]

Some of my wild unscientific speculative ramp up being a holder of CVN which appears to be fathomless bottom.
Does CVN offer an opportunity for Santos for an M & A considering some of the JV between STO and CVN gives maximisation opportunity for STO to buy off CVN - if and only if at least one of the discoveries splash liquid gold.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02655712-6A1145682?access_token=83ff96335c2d45a094df02a206a39ff4

Special attention for @Garpal Gumnut - the optimist for CVN and @divs4ever the pessimist for CVN from @Miner the opportunist

 

[divs4ever]

Some of my wild unscientific speculative ramp up being a holder of CVN which appears to be fathomless bottom.
Does CVN offer an opportunity for Santos for an M & A considering some of the JV between STO and CVN gives maximisation opportunity for STO to buy off CVN - if and only if at least one of the discoveries splash liquid gold.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02655712-6A1145682?access_token=83ff96335c2d45a094df02a206a39ff4

Special attention for @Garpal Gumnut - the optimist for CVN and @divs4ever the pessimist for CVN from @Miner the opportunist

well i am looking at 70 and in less than perfect health , so my 'high growth' hunting days are over , sure i get winners like WHC and MIN anyway , but no longer buy a stock because i think it will triple or ten bagger

( most of the time i try to buy stocks i hope to hold for the rest of my life , which is why i am disappointed to crystallize the OZL profits , MCR as well )