CVN – Carnarvon Petroleum Ltd: .36c
Following the phenomenal drill results from the Dorado -1 Oil Discovery in mid-July 2018, CVN share price rocketed from .145 to a high of .69c.
With the passing of time and initial interest waning, coupled with recent market consternation and volatility the share price has settled around the .33c – .36c mark.
Is now the time to look at getting set for the next round of drilling?
The Dorado discovery is claimed to the biggest Offshore discovery in Australia since 2015, and 15th in the world. When considering all elements, an incredibly rare discovery.
World class discovery
Whole new basin
Low-Risk Country sovereignty
Low water depth
Near existing gas infrastructure & support services
Potential early Oil production
From an overall company perspective, they have both a professional and experienced team, with the exploration manager having “discovered over 5 billion barrels of recoverable oil”.
The next round of drilling is expected to begin in early April. Could be one to watch.