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CVN, CARNARVON PETROLEUM LIMITED
nipper
post Posted: Jul 25 2019, 09:19 AM
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QUOTE
Carnarvon Petroleum is expected to extend its equity raising efforts in the days ahead to fund the Dorado oil project that it owns with Santos, as market observers continue to suggest that the company could be a takeover target — potentially by Beach Energy.

The oil and gas producer tapped the market for $84 million yesterday to fund its share of the costs for the highly lucrative Dorado off the northwest coast of Australia, of which it owns 20 per cent, with Santos holding the remainder.

Working on the raise have been JPMorgan and Euroz Securities, which involved Carnarvon raising $79m through an institutional placement and $5m through a share purchase plan.

The shares were sold at 39c, an 8.2 per cent discount to its closing price on Tuesday.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jul 15 2019, 02:39 PM
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In Reply To: balance's post @ Jul 15 2019, 02:16 PM

chances of development of the Contingent Resource : 75%



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
balance
post Posted: Jul 15 2019, 02:16 PM
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In Reply To: bg99's post @ Jul 15 2019, 11:01 AM

That's disappointing.

They did however provide updated Dorado numbers which I suspect provided some support.




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bg99
post Posted: Jul 15 2019, 11:01 AM
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In Reply To: balance's post @ Jul 8 2019, 01:00 PM


nothing in the lower zones either, bad news

https://www.asx.com.au/asxpdf/20190715/pdf/...m2cxfnpqwr2.pdf

 
balance
post Posted: Jul 8 2019, 01:00 PM
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In Reply To: nipper's post @ Jul 8 2019, 09:45 AM

hi nip,
A bit disappointing but not an entirely unexpected result in the upper zones. If the lower target zones are no good, it'll suffer.




--------------------
Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.
 
nipper
post Posted: Jul 8 2019, 09:45 AM
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In Reply To: balance's post @ Jul 4 2019, 04:59 PM

The wait is over
QUOTE
Progress to Date
• Roc South-1 exploration well is endeavouring to add tie-in resources to the nearby Dorado field
• The Caley and Baxter reservoir intervals in the Roc South-1 well were intersected as expected
• These reservoir intervals are interpreted on wireline logs as not containing producible hydrocarbons
• The wireline data does improve regional understanding, particularly for reservoir
• Crespin and Milne intervals to be assessed next in this well before the rig moves to Dorado-3

good instinct about a bad feeling, balance



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 


balance
post Posted: Jul 4 2019, 04:59 PM
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CVN in a trading halt. I think it maybe a bit early for the ROC south drilling to be complete good news or bad.

HCs in the upper layers where not expected perhaps? Maybe some news regarding Dorado 2 well?
May need to wait until Monday.







--------------------
Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.
 
bg99
post Posted: Jun 19 2019, 08:16 PM
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In Reply To: bg99's post @ Jun 19 2019, 08:12 PM

oops this link should work

https://www.asx.com.au/asxpdf/20190618/pdf/...xmlkyyfwdsw.pdf

 
bg99
post Posted: Jun 19 2019, 08:12 PM
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In Reply To: balance's post @ Jun 6 2019, 03:48 PM

More news is coming soon

https://newswire.iguana2.com/af5f4d73c1a54a...lling_Commenced

 
balance
post Posted: Jun 6 2019, 03:48 PM
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In Reply To: nipper's post @ Jun 6 2019, 12:08 PM

Hi Nipper, Some solid profit taking late in the day. With D2 now known and no big news to come for a while, some of the traders will be lightening. Hopefully the low 50s will be a floor.



--------------------
Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.

Said 'Thanks' for this post: nipper  
 
 


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