RE: Reasons for the "parabolic" rise in CNE5) The steam injection success may have slipped under the wire on the bullboards (except one poster here who kept pointing it out, can't remeber who right now, he opened my eyes that's for sure) but the people in the know are paying close attention to it.
I made note of this a couple of times yesterday. I thought it was the most valuable part of their NR for a few reasons. The neighbouring blocks of land apparently have the same geological/carbon composition as Capella - and those are 100% owned by CNE. Steam injection works - not only does it work - it has the potential to triple production. And finally, the doubling of reserves did not include the impact steam injection has on vertical wells. Just imagine how Capella is going to look by Q2 once CNE has a few steam-injected pumps/wells going. It might have taken most of yesterday for people to fully digest what the NR actually said - it came across conservative (purposely I'm sure) - but the actual meaning can be measured in the hundreds of millions of dollars - or shall I say BILLIONS!
In my opinion, I now think the the heavy oil production potential is going to factor in signifcantly with the SP in the short-mid term - maybe more so than RH and Guyana. I'm no expert though!