el oro es bueno
- 21 April 2006
The CVN chart is looking interesting. I like rounded bottoms at the Ross Island Hotel.
Well, from the Quarterly Report App. 5b CVN has 40 quarters of cash available for activities.
Carnarvon Energy Limited (Carnarvon) (ASX:CVN) requests the implementation of a trading halt in its
securities effective immediately.
Carnarvon provides the following information in relation to its request for the purposes of ASX Listing Rule 17.1:
Please contact Alex Doering, Joint Company Secretary, or myself should you require any further information.
- (a) the trading halt is requested pending an announcement in relation to the transaction with OPIC Australia Pty Limited, a wholly owned subsidiary of CPC Corporation, Taiwan, Taiwan’s national oil and gas company;
- (b) Carnarvon requests that the trading halt end on the earlier of the commencement of normal trading on 28 July 2023, or when the anticipated announcement referred to in (a) above is released to the market; and
- (c) Carnarvon is not aware of any reason why the trading halt should not be granted, nor of any other information necessary to inform the market about the trading halt.
General Counsel and Joint Company Secretary Carnarvon Energy Limited
I do hope you are correct @peter2 ..
8:30PM SEPTEMBER 13, 2023
Australian listed energy groups may be getting busy on the acquisitions front, with talk of interest in Woodside Energy’s Pyrenees and Macedon oil and gas projects up for sale through Morgan Stanley.
DataRoom understands bids for the assets, which are expected to sell for between $500m and $1bn, are due next month.
Among the groups set to put in an offer are Carnarvon Energy. Carnarvon, the joint owner of the Dorado project in Western Australia with Santos, has a market value of $270m but now has $175m of cash on its balance sheet which it is keen to put to work.
Canarvon recently finalised a deal with Taiwan’s CPC Corp to sell a 10 per cent stake in its Dorado and Pavo projects, about 140km off the cost of Port Hedland, for an all-up payment of $US146m.
Other groups believed to be keen are Beach Energy and Cooper Energy. However, the talk is that both need funding partners and are in the market hunting for a joint venture suitor.
And sourcing funding, particularly debt, for oil and gas is never an easy assignment as investors favour renewable energy opportunities amid concerns over climate change impacts.
The $300m Cooper Energy has $81m of net debt, and some say that it needs its $77m of cash for its own growth assets. Yet when Eni’s Australian oil and gas portfolio was on the market in 2020, it launched a bid with Morgan Stanley Infrastructure Partners, so perhaps it rekindles that relationship.