Ann: Results of Meeting, page-20

Australia currently imports about 90% of its fuel requirements most of it from Singapore. Our oil production and our capacity to refine it have been going backwards at an alarming rate. Our petrol stocks represent somewhere between 30 and 60 days consumption. The potential for a future defence crisis or an economic crisis is obvious . This situation is nothing short of a national policy debacle.
The greatest opportunity to address this serious national problem lies in the expeditious development of the oil in the Bedout basin starting with development of the DORADO oilfield and an aggressive drilling of the other prospects .
My concern is that development of Dorado risks becoming hostage to Santos,s regulatory approval problem with Barossa even though there does not seem to be a similar situation at Dorado. Kevin Gallagher seems to be almost begging activists to target DORADO every time he opens his mouth.
CVN needs to bring this situation to national attention by all and any means . Santos need to piss or get off the pot with Dorado, either get on with the development or sell out to someone who will.
The current CVN Board seem to me about as energetic as a sloth on valium , with their subservient attitude to Santos, dragging their feet.
I believe Rusty Delroy and Nero thoroughly understand all of this so my hope is that they soon move to get some motivated Directors onto the CVN BOD.
They can then get on with the important task of alerting the Australian public and lawmakers to our dire situation regarding fuel supply issues. The biggest victim of the Santos go slow are CVN shareholders but Santos shareholders are also missing out and I would be happy for the CVN board to take Gallagher on and point this out to them .If NERO decide move on the CVN , and I pray that they do, they will certainly get my proxy