hello petro, page-21

sduncan...

I could take all night to answer that post...which was well thought out by the way...so will try to keep it brief.

For starters...I believe the Diamonds interest will not end up in Fortitude...Endiama have very strict rules about keeping diamond interests separate and specifically focussed. In my mind it will stay in CVI then eventually sold-off or separately listed...but that is a story for down the track.

Equally, Fortitude will be it's own story...add value to as many projects as you can, then either JV to major, or push for a separate listing (ASX, Dubai, HK?)...or a little bit of both.

Then we have the energy assets.

In my mind, the US$100m facility was the last "proof of life" needed by the Angolese to take CVI on for their pet "project"...CVI needed to prove they had the capacity to step up to the late if needed.

Once this was proven, the eventual use of the funding became of secondary interest.

Whilst the US$100m facility would have obviously been based on an on-shore Kwanza development, perhaps with existing, or indeed prior production, the reality in my mind is that it was more a test of capacity than anything else.

So why would the Angolese do this?

This leads me to the next part of your question relating to the offshore concessions.

Firstly, lets not forget the bankers were in Angola with the rest of the team, so are clearly involved here more than jst a casual observer...it also underlines how serious this facility is being taken.

Anyway, the obvious linking of the refinery to the offshore, onshore and other potential concessions, in my mind is more about setting up CVI as an all encompassing Angolese sponsored vehicle, with capacity to both negotiate and indeed progress from a position of power.

To do this, you have to have something of value to those you are negotiating with...the Oxy team and indeed the refinery, in my mind are central to this cause.

Importantly, for this process to be of any value to the Angolese, they will need to be shareholders in CVI...it will avail them access to that which previously they could not otherwise have gained access to.

We need to reflect on previous "mistakes" to appreciate where I am coming from here.

Anyway, it appears to me that CVI has become a key component of a wider Angolese sponsored reclamation process...driven at a political level...who's central focus is one of regaining control of what was effectively given away for little benefit to the locals.

I suggest everyone read that passage again...and again...and again until it sinks in.

Think about the following...

1. How many off-shore concessions are there?

2. How many significant discoveries of late...78% success rate?

3. How many concessions with existing or near term production?

4. Finally, what level of exposure do the Angolese have?

Whilst the current placement process is obviously rather exhaustive, the fact they are going to the Angolese...who at Mark Smyth's specific assurances are not being re-sold on market...then it is pretty clear they will also want to limit dilution at some point...no doubt when they are all set?

That day will be here one day...and when it does, the party will begin.

As for the obvious manipulation around placement time...it is entirely possible someone with prior knowledge is using the fact to pump and exit...then re-enter on the back of the usual retail "wetting of pants" when they come round.

Given the number of parties involved in such placements, it is entirely possible the company has absolutely nothing to do with it.

Cheers!