The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Lol, you're comparing ADV cash balance to CVN's taking into accounts projects they have under their belts??? WTF lool
Just says a lot about Calamari ... another basher or ramper based on his position...
This abandonment news is from some reporter.
Until we get an rns confirming this it is still going.
$88 million income for every million barrels is not to be ignored.
We know that LP and board were finalising the scale on the other projects, so I want to hear on the path forward with those projects. B10 is on-going with analysis, fruitful or not.. will be RNS'd.. those are the facts.
People are bashing LP, but based on history and independent analysis, tbh he wasn't at fault... so what he was taking a wage ffs, they all do! Are you looking for a Director who doesn't take a wage??? Good luck with that ffs
He also had his cash invested considerably on this project, must remember that fundamental.
I guess the question is whether a more cash liquid oil producer, maybe one already working in the area, would have any interest in B-10 for extraction as a side line or for exploiting an idle rig.
As I've already said..CVN are cash strapped, THAT's why they can't take it any further forward as they still have Dorado to bring to fruition.. THAT is there issue.
The current discovery doesn't look like a commercial prospect, that's why CVN are abandoning it (and why it was previously abandoned when oil prices were lower). Even at the expected column depth it was only going to make money for a very limited time. At 12m it's not, and it's not like a land based well head that you can fit up with a nodding donkey serviced by a mechanic and a land rover, it's a rig out in the middle of the ocean, just the costs of leasing it and supplying with ships from Australia are considerable.
It's an oil discovery Jim, but not as we know it.
Bit of an odd one here really - the SP is seeing the company as a bombed out shell, with little beyond cash.
Yet, there is an oil discovery, which may well be commercial for someone, even if it's on the basis of a sale or asset swap.
Clearly this is nothing like the find LP promised, yet it would seem likely that it is something of some value beyond that which the current SP suggests.
Difficult to now if/how/when this might be realised - I'd guess we'll know more in a couple of days.