The reason CVN acquires leases are to progress them to a farm out status.
Then we talk the big boys into a free carry which CVN are very good at because of the team they have.
That's why we found PS1 and ROC.
Lately though CVN have become brave enough to buy into a possible oil producing permits(Outrim)
Why not?....We have the cash so they are proactive.
Since they sold Thailand management have not put a foot wrong.
Even a so so result at ROC can totally change with a ROC2 success.
Then we become a gas and condensate producer with revenue.
Just in time for an oil recovery.....
Ann: New NWS Exploration Acreage-CVN.AX, page-15
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