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CVN - Carnarvon Energy

@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.
 
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
 
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


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