Ann: TDO: WA/527- P Update (Amended), page-48

Hi Dan, please note that Euroz have estimated 175 million barrels in total (35 million barrels net to CVN) in Monday's report with a price target of $1 so if that is what CVN releases in two weeks time, it is going to be below your expectations!

I hope the number will be much bigger but one would think Euroz is in a better position to estimate than most retail shareholders given their relationship with CVN.

The number will probably be much higher over time as more wells are drilled but I caution against expecting 200 -400 million in two weeks' time.

I would hate the hot money to smash CVN's share price again in two weeks time if the number is around 150 - 200 million barrels.

cheers