Ann: Roc-2 Confirms Gas and Condensate-CVN.AX, page-38

Thanks for the really good comments here from some people who have experience in the industry. I don't really have the time to research at the moment and was not quite sure what to imply from the last few announcements as the share price has not really responded. Sounds quite positive, considerably derisked, compared with Phoenix which caused a wiz bang reaction but no follow through.

It seems to be a bit of a question of timing and costs to production, dependent I guess on how many more appraisal wells are required. Any comments on these factors? It seems like the markets attitude so far is 'no rush' time to figure out the economics and path to funding and how it will affect CVN. If investors with oil industry experience can infer so much already from the announcements then it seems like the only thing that will make the price move is some significant investment which requires the financial situation to be clearer. I am a couple of cents down from this years purchase pre drill and not sure if I want to hold for another year if it's not going to be moving there are other investments that are at the moment, and by back closer to development.

So what about the costs and appraisal wells and time frame, minimum max time to production? Is this big enough yet to be a priority for development or a back pocket asset to hold for a better market?