Ttibsen - RE: CWV has current producing wellsyou're getting the 'potentially significant' Columbian play (the reason for the meteoric rise and subsequent fall!) confused with a small field in SW Manitoba with a 'potentially signigicant' upside of 25 wells of mediocre daily production although, from what I gather is a rather long life and relatively trouble free reserve.
Check out their website for more details. You're still buying (or thinking of buying) CWV for what amounts to a speculative play in Columbia. The upside... just check the last peak a couple of weeks ago. The downside, well, I believe we're pretty much there IMO (a trading range between 15 and 25 cents) as the trend before the blip would indicate. If you have some play money, this would be as good a place as any to have some fun with it - all IMHO of course.
BTW, I do own some CWV that I bought on the way up and couldn't move on the quick fall down to these levels. I refuse to dump at these prices and have elected to average down a bit recently. Same thing happened to me on ENG although I haven't averaged down on that one yet. I've mentioned on it's board that ENG is also a gold play and that I expect it may rebound because of that (gold peaked over $400 this evening for the 1st time since around 1996 I believe). I did manage to make some decent $'s on GUL and have not gotten back into that one yet although it is on the radar.
Happy trading all,
C300