EV of discovery just, page-161

CVN holders think about this. As far as I can remember and this is going back many years. No small Australian Oil/Gas company that has made a big discovery remained listed for too long. The usual pattern is for a foreign company to come in and take them over, can think of so many going way back to Cultus . The reason appears to be that ASX investors never seem to be able to give fair value to these smaller oil/gas stocks. How silly can Mr ASX market get ? Go back about a month and take out CVN cash and receivables and Mr ASX was saying that CVN with proven reserves and good cash flow from Thailand, plus all its Australian permits was only worth about $5m. The big Australian BHP having given this permit away for nothing, has to be the biggest looser.