TSXV:CVI.P - Post by User
Comment by
CalifDreamingon Nov 07, 2010 7:20pm
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Post# 17671171
RE: Why the negativity.....
RE: Why the negativity.....Great. I guess you forgot this play traded $8+ a few years ago? When the crap was thick? Then what happened? Reality hit. Price collapsed (even before the credit debacle). Why? Because there was no way to sell their production. And a few other issues like Hiswah not performing as per guidance didn't help either. Now, 4 longs years later, they are hopefully about to get to 10K bpd gross (5000 net, before hefty royalties) that was promised (of course with about 4x more wells having been drilled in the meantime).
Now the market has just been informed that no more production until the pipeline is built. Figure it out. Are they likely to get a decent offer with a pipeline years away and mired in red tape in one of the top 10 worst countries in the world? Perhaps, but I really doubt it...