Another Analyst Loves CWV!Kevin Shaw loves this play and see's Great Growth potential. I believe we have $14 M in Cash, not the $30M he mentions. Hang on Tight, it will be a really good year for CWV, this is just the start and Thx to the seller that gave be $0.71 stock this morning! ;) Much Appreciated!!!
Comments from K. Shaw below.
KS:Crown Point Ventures Ltd. (TSX.V:CWV) has just come to the table over the last 12 months in Argentina. It has a market cap of just over $75 million. In a very short period of time, Crown Point has put together four key blocks and is spudding a drilling program within a week or so, focused on low- to medium-risk conventional oil development to ramp production and cashflow.
Crown Point also has solid management, similar to Madalena. Based in Calgary, Crown Point is headed by Murray McCartney, who has teamed up with Mateo Turic in Argentina to run the operations there. Mateo Turic headed YPF's exploration and production department in Argentina, so he's very well connected, knows everyone in Argentina, and is a key strength for the company to go forward.
Crown Point is a very cheap stock currently. It is producing about 400 to 500 barrels of oil a day and has two low-to-medium risk development blocks in conventional oil, multizone type targets. It's recently cashed up, with about $30 million in its jeans and no debt to drill probably 15 to 16 wells over the next 12 or so months. Crown Point also plans to drill some high-impact exploration wells, probably later this year. They're talking three to four potentially game-changing exploration wells, the same type of stuff Madalena is drilling now. So, Crown Point is one to definitely watch, and it's just coming out of the gates in Argentina.