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CVN - Carnarvon Energy

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It’s a slow moving bus this one. The update above really doesn’t have anything new in it. The quarterly only mentions the fact that no drilling will occur this year as a suitable rig was not available oh and costs have decreased
 
ASX announcement today "Strategic objectives on track".

One line caught my interest:-
"The Company also remains open to exploring alternative transactions to accelerate value
realisation and is working with J.P. Morgan to consider its strategic options."

Is the company up for sale?
 
Saw that as well.
Pretty sure they have wrote this one or two times before.
 
Yes. For sale sign shining brightly now. The question is, are their any buyers and at what price?
 
Hmmm What does this mean chartist.???

 
Ha, that means you're not a chartist, @UMike

A move from 0.200 to 0.195 is only ONE price tick. I'd say that there's a balance between supply and demand.

On the longer term chart (weekly) price has been moving sideways all year. Very few instos are selling and very few buying. The OBV which is an indicator of demand is steady (not falling or rising) confirming the balance in the market atm. Seems the market for CVN is waiting for news.
 
UMike said:
Hmmm What does this mean chartist.???

View attachment 176441
Click to expand...
@UMike

During the Pre-CSPA (Closing Single Price Auction) @ 4.10.03pm there was an unusually high Volume of Trades – Look at the Course of Sales, there was just over 4 pages of individual trades for $0.195c, if you add the Volumes up they come close to the 2.5 mil volume of trades shown by your Volume Candle..

Nothing abnormal – just a bit odd – the $64 Question is “Who is Selling & WHY”…

Probably as peter2 posted “a balance between supply and demand”….

Cheers..
 
My suggestion is one seller dumped into the pool of supply that had been building up during the day.

Is only half a mil $$ wise. so hardly earth shattering news. but....
 
From the corporate presentation, appears most of the current market cap is made up of cash and "as good as cash" assets.
Shareprice doesn't account for much of the future potential of the oil and gas assets.
Is that indicating a truly undervalued business or a great deal of uncertainty?
 


The "For Sale" sign put up on the 6th seems to be having the desired effect.

It's tempting to try and ride this, but I'd be happy just to get to a profit on my current holding.
 
Someone was listening to your rant. From the AFR today. The price rise would have been nigh impossible to pick although the RSI diverged before the move up. A similar divergence however led to nothing in early March.

A good move in the POO will add spice to the bids for the company and it’s Dorado assets. CVN has exhausted so many ASF members over the years. It will be good to make a profit for us all and move on. 0.23 seems like resistance atm.






gg
 
It seems like long ago these guys seemed without ideas or the will to make this happen.
 
Hi gg…

Guess what M8 – I have to disagree with you once again…

ST Indicators that Traders use gave the first credible Entry Signals on 6/5/24… The CCI Signals of Blue UP through the WMA & Centreline, and the DMI Blue & Green together Above the Red….

But because it’s been such an erratic stock, not too many of us took any notice of those signals until 3 days later when the Corporate Presentation lobbed on 9/5/24…

CVN Exit Signals were given on 16/5/24…
 
This is being well held around the 20c mark. Any sell off is being brought into. Don’t see anything major happening till September. Have traded a few between 19c and 20.5c mark. Still holding a parcel from 2013 that cost me 5.6c backing the trade with them being free carried helps me sleep at night
 
I'm wheeling out CVN again for the July monthly tipping comp.

It's been up for sale for a while now. Maybe an announcement will come soon?

Of course, the announcement could be "everyone tells us we're dreaming" ....
 
WTF wasn’t fid meant to be 22 then 23 then mid 24 then fid ready end 24 now 25 and restart feed. Isn’t that starting again. Back in the bottom draw as the power has been cut to the for sale sign for now. All I have to do is find some space in there or take something else out to play with
 
It is a very erratic stock, no doubt.

Even technical analysts like @DrBourse have to combine TA with fundamental analysis to make a decision on entering or selling CVN. I use the Garpal Gumnut Gut known as the Triple G indicator and I am holding CVN at present neither adding nor selling.

I don't use the Macd Potato indicator so I cannot add further on its technicals, but the RSI is equally non commital.

gg
 
The plan this month was to wait for the annual report
Read the report
Select some juicy facts to inform you all
All I can say is there’s nothing to see here although the bottom draw is nice and warm this time of year. May fill the draw if 13c is comes into play
 
Nothing to see here except for the fact directors have been buying. Is that a good thing. Maybe for them in the longgggg run or do they have to much cash at their disposal. At least it keeps the punters engaged.
 
My pick for the October monthly comp.

It hit 14c in early September and might be bouncing off this.

It won't hurt if today's oil price rise proves more than fleeting too.
 
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