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Plenty of decnet buying here this morning...think this will recover somewhat today...any good news filtering out or they decide to sidetrack can see and easy bag from these levels
Drilling and or testing is still ongoing.
Even 12m of oil could be quite profitable given the current oil price and the oil is the good quality high premium grade.
I’m sure both companies will do their best to make a positive outcome from this drill.
A dead cat bounce is still a dead cat. Care.
As Steve says, CVN had almost as much as the entire market valuation here prior to yesterday's drop wiped off it. They have much better prospects and income too. This situation is dire.
Don't get ramped into this. ADV has no other prospects without raising funds, and has just £1.5m-£2m in cash. Current market cap is almost £8m still.
Probably not as they have other assets and income to fall back on.
Still took over £40 million of their mc.
CVN didn't fund this well , they have other prospects coming up.
ADV carried all risks and they don't have any back up plans.
Weird cvn (asx)hold 50% and adv hold 50%of buffalo well after news cvn are down 14% and adv down 84% surely this is a massive overeaction
Buying here on the bell
"The top oil sand in the Sea Lion well was encountered at 2,374 metres subsea, and the base of the lowest oil sand (“oil down to”) level was encountered at 2,591 metres subsea. The total vertical oil column is 217 metres (712 feet), with total net pay of 53 metres in seven identified pay zones, the thickest of which is approximately 30 metres."
No, you're not dreaming. This was SeaLion for Rockhopper. Thickest 30 m!
Who knows, it could about turn here, say, 50% on a good wireline report.