Ann: New NWS Exploration Acreage-CVN.AX, page-6

So I have some questions in relation to the permits, if anyone can help me out?

They mention in the release that there are large prospects in the acquisition, how do they know that, or is it speculation?

What is the process and timeframe between acquisition, seismic, permits then drilling?

My questions are related to getting things right in my head for understanding why we are buying more permits (even very cheap permits) when that cash could possibly be spent on drilling existing and getting it to market, (presuming commercial success at roc).

Or even saving for the commercial production costs, and getting that ready to coincide with the return of oil prices that a lot of analysts seem to think will come back by years end.

Any opinions are welcome, am keen to learn about the process..