CVN - Carnarvon Energy

[UMike]

@Miner
While STO are cashed up they are buying back their own shares so since CVN is positive in Cash it might not make sense to acquire another cashed up asset. If CVN was in debt it might be on the cards.
Also ..... Any lowball offer would "devalue" the Asset that STO already has.

 

[Garpal Gumnut]

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……
View attachment 155093

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.

I would agree Doctor that CVN is in the wildcard basket of stock picks.

I must admit though, as one who is a believer in TA, that it has been of little use in stock analysis during the gyrations of the last 3 years.

I'm in the @Miner school of CVN.

gg

 

[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

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

I use a combination of things, but it's a hard slog. I'm aiming to have no anxiety at all, both in the pre- and in-trade periods. Whilst my anxiety isn't high, even a tiny amount can cause problems if it snowballs. The thing is, fast moving markets will not wait for us to regain composure - the reset to a neutral/positive mindset must be very quick.

I have tried meditation, energy psychology techniques, breathing therapies, emotion awareness. Techniques like this are not just for outside of market hours but live, in-trade. Real-time.

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

I'm a CVN tragic. My pick in the May competition.

I'm waiting for Gas and Oil stocks to take off again.

Plenty of Gas.

Little cash.

Awaiting a t/o bid.

gg

 

[Miner]

I'm a CVN tragic. My pick in the May competition.

I'm waiting for Gas and Oil stocks to take off again.

Plenty of Gas.

Little cash.

Awaiting a t/o bid.

gg

Gg
I am relieved to return your CVN horse and win the game in May.
My benefits are seeing you winner and my stock looking green ?

 

[farmerge]

I'm a CVN tragic. My pick in the May competition.

I'm waiting for Gas and Oil stocks to take off again.

Plenty of Gas.

Little cash.

Awaiting a t/o bid.

gg

Well Mr GG patience can be a virtue.
Though I am hoping my pick for the May comp will be in the mix this time around.

 

[UMike]

Bedout divestment update 24 May 2023

Highlights 
Finalisation of the divestment of a 10% interest in Carnarvon’s Bedout assets is progressing well 
Majority of the conditions for completion have been satisfied, with the parties working towards completion mid-year 
Following completion, Carnarvon to hold cash of ~A$178 million, and an entitlement to a further ~A$129 million contribution towards Carnarvon’s share of the Dorado development costs

As previously announced on 22 February 2023, Carnarvon Energy Limited (Carnarvon) entered into a binding agreement to divest a 10% interest in its Bedout assets to OPIC Australia Pty Limited, a wholly owned subsidiary of CPC Corporation, Taiwan (CPC), Taiwan’s national oil and gas company. Under the agreement, Carnarvon will receive total cash consideration of US$146MM. This comprises of an upfront payment of US$56MM (equivalent to ~A$80 million) on completion of the transaction, and a further carry of US$90MM (equivalent to ~A$129 million) towards Carnarvon’s share of the Dorado development costs once a Final Investment Decision (FID) is taken.

My question is......
If they have so much cash now Why not buy back their shares?

 

[Miner]

Bedout divestment update 24 May 2023

As previously announced on 22 February 2023, Carnarvon Energy Limited (Carnarvon) entered into a binding agreement to divest a 10% interest in its Bedout assets to OPIC Australia Pty Limited, a wholly owned subsidiary of CPC Corporation, Taiwan (CPC), Taiwan’s national oil and gas company. Under the agreement, Carnarvon will receive total cash consideration of US$146MM. This comprises of an upfront payment of US$56MM (equivalent to ~A$80 million) on completion of the transaction, and a further carry of US$90MM (equivalent to ~A$129 million) towards Carnarvon’s share of the Dorado development costs once a Final Investment Decision (FID) is taken.

My question is......
If they have so much cash now Why not buy back their shares?

Will buy some useless goodies to push down the price

 

[Miner]

Cvn price is depressing day by day.
Any speculation if the project now under chapter 11 sort off ?

 

[Ferret]

My pick for the June comp.

Trying to think of a reason why and all I can come up with is too much wine.

 

[farmerge]

My pick for the June comp.

Trying to think of a reason why and all I can come up with is too much wine.

Well according to my Italian heritage Aussie born GP, red is good as mother's milk, white, well that is headache material.

 

[Ferret]

Well holding CVN has certainly been a headache!

 

[Garpal Gumnut]

CVN is my pick in the July 23 Competition.

It is a small to mid size oiler whose main finds are about the Carnarvon basin in WA, one of which is Dorado, which it shares with Santos STO. The latter is yet to make a decision on investment, it is called an FID if you see it about, a final investment decision.

Lotsa oil there, the price of oil is very low atm., oil however costs less to get to productive energy than lithium or hydrogen and oil is kinder to the environment when total harmful costs of mining and use of so called clean energy is calculated.

These decisions may seem simple, but they are not. Outfits like Santos, as well as fleeing Meanjin because of the Doctor's Wife who now leads Queensland imposing unfair taxes, also have global opportunities in Alaska and other US states, Canada and that continent below Cairo. So the opening of Dorado may depend on some insect that Trudeau decides to protect in Alberta, or some insect in Africa, rather than just Western Australian matters.

Interesting times. It had a decent uptick in volume just before EOFY with a rise in price, so others feel it is a worthwhile buy.

gg

 

[Miner]

CVN is my pick in the July 23 Competition.

It is a small to mid size oiler whose main finds are about the Carnarvon basin in WA, one of which is Dorado, which it shares with Santos STO. The latter is yet to make a decision on investment, it is called an FID if you see it about, a final investment decision.

Lotsa oil there, the price of oil is very low atm., oil however costs less to get to productive energy than lithium or hydrogen and oil is kinder to the environment when total harmful costs of mining and use of so called clean energy is calculated.

These decisions may seem simple, but they are not. Outfits like Santos, as well as fleeing Meanjin because of the Doctor's Wife who now leads Queensland imposing unfair taxes, also have global opportunities in Alaska and other US states, Canada and that continent below Cairo. So the opening of Dorado may depend on some insect that Trudeau decides to protect in Alberta, or some insect in Africa, rather than just Western Australian matters.

Interesting times. It had a decent uptick in volume just before EOFY with a rise in price, so others feel it is a worthwhile buy.

gg

@Garpal Gumnut - All the best. that your tip CVN gets the first position enabling not only you to get the prize but also for me to unload my loss making oiler

 

[Garpal Gumnut]

@Garpal Gumnut - All the best. that your tip CVN gets the first position enabling not only you to get the prize but also for me to unload my loss making oiler

Thanks @Miner

Onwards and upwards.

Perhaps if CVN reaches the high 20c./ low 30c. it will keep on going this time. ?

gg

 

[Ferret]

CVN is my pick in the July 23 Competition.

I fear you have done us a disservice, GG.

I have come to the conclusion that CVN is going nowhere while we keep picking it in ASF tipping competitions.

We need to stop picking it and then it will rocket ahead out of spite.

 

[peter2]

I have come to the conclusion that CVN is going nowhere while we keep picking it in ASF tipping competitions.

I agree, I've been looking at this straight line since March23. Give it chance guys.

 

[Miner]

I agree, I've been looking at this straight line since March23. Give it chance guys.

View attachment 159537

CVN will pick up tomorrow onwards because I sold out my holding at a loss after waiting for a long- long

 

[peter2]

OMG the development of the Dorado field is taking a long time. I thought that CVN would be pumping Dorado oil by now.
They seem to be managing their capital quite well, no debt plus $97M in the bank.

 

[Miner]

OMG the development of the Dorado field is taking a long time. I thought that CVN would be pumping Dorado oil by now.
They seem to be managing their capital quite well, no debt plus $97M in the bank.

too late @peter2 for me. I was tired to see constant 25 to 30% down and passed it into salvation to rise from the Phoenix for others

 

[farmerge]

CVN will pick up tomorrow onwards because I sold out my holding at a loss after waiting for a long- long

Well looking on the bright side of CVN, I haven't and don't hold it so I just look and wonder.