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Business Description: Carnarvon Petroleum NL (CVN) is an oil and gas exploration and production company. Carnarvon is currently focusing on its core regions of South East Asia and Australia, with operations active in Thailand and Australia.
Strategy Analysis: The long term strategy is to build the asset base from exploration success and cash flow self sufficiency. At the same time as CVN develops its Thai interests, new exploration and development opportunities are being canvassed with a focus on oil basins in Asia and Australia.
Carnavon Petroleum reported NPAT down 85% to $2.16m for the year ended 30 June 2011. Revenues from ordinary activities were $54.75m, down 16.1% from last year. Basic and Diluted EPS was 0.3 cents compared to 2.1 cents last year. Net operating cash flow was $23.47m compared to $32.30m last year. No dividend was declared.
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