Ya. My interpretation of the words used by CVN were that they were strung together in a fashion that allowed (encouraged even)a reader to reach an immediate conclusion that the cost to CVN is likely to be $A1om (which would look about right to most CVNers) and 95 out of 100 CVNers would have reached that conclusion without further enquiry.
However a hypothetical wordsmith (one with no knowledge of drilling costs and hypothetically not interested in the actual result) could,almost as easily, have deduced that CVN was indicationg a cost to them of $A3.5m.
Nobody responded to my post,per se, and as I was confident that I definitely had a completely valid point I sent CVN an email in effect advising them that their statement was ambiguous and asked what the correct position is. They have responded with "The $A10m is in reference to the net value payable by CVN for the drilling" .
I will go and have a look at your arithmetic on possible well costs(your efforts are appreciated).Cheers
CVN Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
(20min delay)