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Oil dropped below $70 again so possibly a rough ride for a few weeks before markets settle again..
My view is this is a positive update..2 weeks is nothing in the wider scheme. The time is not being wasted.
Excellent news and its good see Carnarvon on the case.
"rig handover expected within the next two weeks"
"Buffalo-10 well results with our shareholders early in the new year.”
My perspective is we have always been beholden to the Skua workovers. You can't get to work if the bus doesn't arrive.
Results due:
"We will provide updates as drilling progresses and I look forward to being able to share the Buffalo-10 well results with our shareholders early in the new year.”
i have no idea what anyone is talking about here, its news, and its just two weeks. It wont go down for the sake of two weeks.
I think it will be taken well by those in no rush and those that sell will try and buy back lower. But speaking from experience. You sell easy. Then go to buy and it’s nt. and then your paying more to join the party. I think I will hold. As nothing bad in there. And I think we may some of the bod buy more shares. Gla.
Not necessarily wait 'til mid January for results. CVN's rns clearly goes on to say "We will provide updates as drilling progresses". pretty sure Leslie also said something along those lines. So mid Dec. spud, could get an update by x-mas. GL.
Retail investors will be disappointed I’m sure. But I’m hopeful the institutional players might welcome the update - not exact certainty but nevertheless informative and confirms no bad worries.
Just the mm’s to worry about now in the immediate sense
Shocking. Gutted
Not just the spud time either
Yep seems Canarvons done some due diligence and chased Jadestone, prob in collaboration with Advance, so yes, I also expect an RNS clarifying in the morning on ADV's behalf.
Feck knows what the delays are on the rig, maybe clarified tomorrow, maybe not...but I agree with amin0406, will be mid Jan now. They may also be being very liberal with the "Two Weeks" statement, to give them safe room.
More patience lol.... but either way buy the F******* dip
I was wondering why you adding your own time on to the RNS and then saying IF?
Thanks for that AJ.
Mid dec spud would mean mid jan results
I'd expect our RNS to echo that in the morning. Not sure it will do much for the SP as it is still waiting on rig being released. Surprised JSE have no comments to make.
Certainty. Its what we needed
CVN RNS - BUffalo
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02459773-6A1065897?access_token=83ff96335c2d45a094df02a206a39ff4
@DPYC thank you!! all good in Cov.... the anticipation is building though, we're cool with holding our breath for a while yet!!
cheers
PJ
https://gyazo.com/52f3a60502281185195688761b0ca138
Not much action today. One of the vessels pulled up beside for a couple of hours but nothing else other than that. Hope all have had a good Monday.
I’m a long term holder as have lot of belief in fundamentals, strategy, BOD etc. Just amazes me how arrogant people can be when it comes to other people’s opinions. A lot of people invest in the casino that is AIM to make a quick buck. They might be good investors, know their stuff, know the risks but like the risk/reward. They are in for the short term. And maybe they don’t have lots of money. But any sign of frustration/impatience due to delays is always met with condescending comments. Of course delays don’t matter if you’re in for the long haul. But not everyone is.
@Hazdogg
I feel there is a difference wanting to know when the rig moves/spud happens and being concerned about ‘delays’.
I am interested to know when the rig moves etc, but I don’t feel the need to get sh*tty with ADV for the fact that it’s not happened yet. I accept that in O&G there are delays and in the big picture, 4-6 weeks (from the original date of end Oct/early Nov to now is not material to me.
I get that other people may have different views - maybe needing funds for something else - but that’s not a reason to take issue with the BOD IMO.
LP gave us a rough date (end of Nov) on the last presentation - so if the rig moved soon and we spud say next week, is that really an issue?
Anyway, we can’t influence it - all we can do is wait and enjoy the expected reward of out investment :).
Don’t forget what MT said this mng - only people with the patience of a mayfly shld be thinking about when drill is. Oh to be a ‘seasoned investor.’ Maybe I’ll get to meet 1 one day.
Some calm today which has been welcome. AGM coming up and would be a surprise it to have an update
PJ
Interesting reading all the views on timing, Spud delay, interpretation of boss's interview etc.
One thing that is just as relevant is the whole project has been planned around rig availability and Spud. Several contractors are either employed or are on standby. Also, who might be awaiting the rig after our drill. The Gantt chart must be quite complex and lines being moved as each day the rig remains with JSE. Dare I mention the impact of so called 'delays' on costs.
May be he was referring to the 'logs on xmas day' for his fire!
Personally, no panic but would welcome an update from either JSE or ADV.
Will it be the 1st or 2nd week is the question on my mind.