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signing off till rns chow
If you need an RNS telling you its going no further then I would rethink about investing in oil stocks. A 12m gross standalone offshore of this field size is not getting developed. Why have CVN not clarified if they have been misquoted?
where is the rns stating there taking it no further other than some mupet saying hes been told
Was posting on this board before the drill was even started defending the company, must be playing a long game. A side track will prove nothing. Buffalo is done, all the clutching at straws is giving false hope. CVN have access to all the information from the drill and they are the ones that spent a fortune on the reprocessed seismic and they have stated they are not going to progress further. As clues go they do not get much clearer than this. Side tracking, wire line logging and all the other wild theories are not going to change the fact of a 12m gross oil column.
you have created a account thats new with negative posts on this board only
mms also create accounts for there own agenda. i am not qualifed to give financial advice but im not selling until i see a rns
A side track is not going to add anything new, a side track will find the same 12m column. They do not have the funds to do it either it does not matter how quick the drill was. It will cost extra to drill a side track.
no ive never seen anything like this well i have. hoping for a jog type outcome. id rather go down with the ship than sell because someone on here told me to do so.
im holding for news. as a few others say it is not over yet
Could be.
As I said earlier.
Drill was up to 35 days was done in 19.
A sidetrack would only be a few days and if rig already paid up for another week or so could be inexpensive to do.
We should hopefully know more tomorrow if not earlier.
The drilling rig is mostly likely on hire for a fixed period and they seem to have reached TD a lot quicker than anticipated.
There could be a deal to be done with the rig.
Watch this space.
A side track only makes sense if they drilled on the wrong side of a fault line, if they side track from here they will find exactly the same 12m column. Plus they do not have the funds to do this. The seismic interpretation was wrong there is no magic bullet to fix this.
Where would the money for a sidetrack come from though? They have no money left.
We may get an RNS from Carnarvan later tonight before the AUS markets open. If they have completed their wire logs over the weekend that is.
Has anyone ever seen anything like this? 1.8billion shares have changed hands since Wednesday.
When the RNS landed there would of been plenty of Stop Losses hit, margins called, leveraged traders, and then there would be sellers taken what they can (pre/post buyers)….
While the above is correct, anyone who jumped in for a bounce is either underwater or sold for a loss. Some may have found a quick ~10% trading the stock from 0.55 to 0.65.
I fear that the stock will continue to slide unless we receive another RNS.
I am not O&G expert but given the current state, I suspect ADV are frantically checking the seismic with a view of going for a side track.
Unlike various posts, I don’t believe this is a P&A. I could be wrong but given it is the only play for ADV and everything is on the line, I don’t think they will give up that easily.