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Carnarvon Energy Limited ( (AU:CVN) ) has shared an announcement.
Carnarvon Energy Limited has announced an on-market buy-back of up to 10% of its ordinary shares, following the deferral of its Dorado Development Project. This strategic move, approved by the board and funded by the company’s strong cash reserves, aims to enhance shareholder value by capitalizing on the current share price, which is perceived to undervalue the company’s assets and strong balance sheet.
More about Carnarvon Energy Limited
Carnarvon Energy Limited operates in the energy sector, primarily focusing on oil and gas exploration and production. The company is involved in developing key projects and managing its assets to capitalize on market opportunities.
YTD Price Performance: -29.09%
Average Trading Volume: 31,875
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $139.4M
See more data about CVN stock on TipRanks’ Stock Analysis page.