Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : CVL Resources (CVL:VSE) -- Ignore unavailable to you. Want to Upgrade?

To: salexa who wrote (141)	11/1/1998 9:07:00 PM
From: Ed Ajootian	Read Replies (2) \| Respond to of 196

Fagan says gas play could help stock CVL Resources Ltd CVL Shares issued 36,700,000 1998-08-10 close $0.25 Monday Aug 10 1998 Brian Fagan, writing in the August edition of the Fagan Report, comments that CVL Resources, the former Consolidated Valley Ventures, is an oil and gas exploration company with a focus on Australia and New Zealand. The company, 34 cents on July 31, is trading near its 52-week low of 30 cents; its year high is $1.50. Mr Fagan explains that he has been a strong buyer of the stock recently, but now he is cautious. On July 14, CVL announced the acquisition of a gas prospect for a three-well test. Gas is considered a better play than oil these days, Mr. Fagan says, adding the company must announce a spudding date or the stock could trade below 30 cents. Further, he says, without some drilling success, "I don't want to own this stock on November 5, 1998, when 12 million restricted shares become free trading." Mr. Fagan notes with some scepticism management's assertion that having 12 million shares enter the picture should not be a problem for current shareholders. ******************************************************************************* Guess we'll find out on Thursday whether Fagan's concerns are valid or not. Anyone want to make a call on this one? Anyone have a clue as to when this puppy may drill another hole anywhere?