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Author Message ▼ Last message
Hedge21     posted : 26/12/10   09:22 am

CA22856P1036 - CWV

Several people asked me to give my opinion regarding this company but due Deontological reasons i refused to analyse it..

( do not forget that some institutionnal investor or retails can manipulate people to invite them to buy , sell , or create a rumor. you can be critic or sceptic, and not just stupid )

just have a look on the graph and make your own opinion

Do not forget to hedge your position if you invest in others currency than CAD ( forex risk )

click to enlarge

according bloomberg

Key developments for CROWN POINT VENTURES LTD (CWV)
Crown Point Ventures Ltd. Signs Agreement to Acquire Interest in 307,000 Acre Cerro De Los Leones Exploration and Production Concession in Argentina's Neuquen Basin

Crown Point Ventures Ltd. announced that it has entered into an agreement to acquire a 49.9% interest in a 307,000 acre exploration and production concession in the Neuquen Basin in the Province of Mendoza. To put this in perspective, interest in the El Valle field in the Golfo San Jorge basin, where the company has five producing wells and a strong development drilling inventory, is 15,814 acres. The Neuquen block at 307,000 acres has seven distinct areas of interest with play types ranging from anticlinal features in the deeper western portion to the shallow resource type heavy oil plays on the eastern side. It is an exciting acquisition. Crown Point's interest in the block is being acquired from several private Argentine companies for purchase consideration of approximately CAD 1,000,000 of exploration and development expenses to be reimbursed and for the reservation to the vendors of a 2.5% gross overriding royalty (net 1.25% to the CWV interest). The terms of the concession provide for a state royalty of 16% and require the expenditure of CAD 13.85 million to be spent on 3-D seismic and drilling over a three year period.
Crown Point Ventures Ltd. Reports the Completion of Third Successful Oil Well for 100% Success Rate in Latest Argentina Drill Program

Crown Point Ventures Ltd. announced that the third well (EV 24) of its three well 80% interest drilling program has been completed as an oil well. The EV 24 well follows up the previously announced successful oil completions of the EV 22 and EV 23 wells. The EV 24 well was successfully completed in three separate zones. The first zone completed was a three meter zone in the Mina El Carmen formation which during swab testing produced oil at an 80% oil cut for at rates of 100 bbls of oil per day. The other two zones were a five meter zone and a separate four meter zone in the Canadon Seco formation. These two zones during swab testing produced oil at an 80% and 93% oil cut respectively for rates of 205 and 241 bbls. of oil per day. The EV 24 well, like preceding wells EV 22 and EV 23 have created additional development drilling locations which will be drilled in programs commencing later this year and in 2011. Prior to the end of 2011, Crown Point expects to drill up to 12 more wells at El Valle, subject to financing. Three to five of these wells are expect to be commenced either late this year or early in the new year.
Crown Point Reports Second Well Producing 300 Barrels of Oil Per Day in Argentina

Crown Point Ventures Ltd. announced that the second well (EV 22) of its three well 80% interest drilling program has been completed as an oil well, following up the success of the previously announced EV 23 well. The EV 22 well during an extended production test is freely flowing oil using a 10mm restricting choke at test rates of 443 bbls/day total fluid, 70% of which is oil, or 300 bbls/day of oil. This well was completed in the Caleta Olivia formation of the Golfo San Jorge Basin in southern Argentina. Three other potentially oil-bearing zones remain to be tested in the Canadon Seco zone, which management expects will generate additional commercial production. These zones will be held behind pipe for a future completion operation when the natural decline in production from the current zone warrants their completion. This is the company's second great result from the August drill program. The test has demonstrated consistent flow rates, and leaving for the future some high quality oil bearing zones for a later completion to replace natural decline. The completion rig has moved to EV 24 to start the completion of last of the three wells drilled. Like EV 22 and EV 23, the last well has multiple potential oil bearing formations to evaluate
Please review our website & don\' hesitate to ask your question
Hedge21     posted : 08/01/11   10:38 pm


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Please review our website & don\' hesitate to ask your question
Hedge21     posted : 06/02/11   02:43 am


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Please review our website & don\' hesitate to ask your question
Hedge21     posted : 27/02/11   08:06 pm


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Please review our website & don\' hesitate to ask your question
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