CVN 0.00% 19.5¢ carnarvon energy limited

Hit more than they bargained for?

  1. 1,317 Posts.
    I have been following oilers for a while now but don't claim any expertise so if Blackgold or Spirit or anyone else out there knowledgable on these things can correct me please do so. My interpretation of the announcement on the the first CVN/PTE development well is that in addition to striking the F Sands dead on prognosis they have hit another reservoir of deeper sands which looks like delivering a further 71 metres of potential reservoir (hydrocarbons?). I don't explicitly say hydrocarbons because hcs were not mentioned in the press release but if they have found another reservoir under the targetted one then ...hey that's pretty good news aint it? I guess we need to know from the results of the wireline logs that both finds are commercially productive but again...hey why run casing if the good stuff is not there? Sure we have a slight delay with the arrival of the production equipment before the wells are perforated and flow tested but jeez.. it is looking pretty bloody good to me. Lets see if the next well turns up this additional reservoir. We won't have long to wait these guys on the rig move so fast... why oh why couldn't they move to New Zealand and put that Huinga thing out of its misery. Of all the oilers I hold CVN looks like making up for the diappointment of Makino, Huinga, Opito..and I am not even from NZ. JBC
 
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