CVN Shorts, page-23

Just back from the presentation in Melbourne.

Shorting our SP:

- Can confirm the company is aware there are a few funds shorting our stock (one fund is doing most of the shorting),
- For what purpose, they don't know.

Buffalo:

- A shortlist of 3 parties are vying to be our JV partner,
- Under normal circumstances (where there are no delays), it will take up to 18 months to get first oil out of Buffalo,
- CVN is looking to getting at least one free carry at Buffalo,
- The first drill (if we were to secure a JV partner now) will likely take place in about 9 months,
- The board have discussed the option of selling Buffalo after the first drill, so that we don't need to raise capital for Dorado and if we do, it will be a small amount (refer to my post here https://hotcopper.com.au/posts/40343912/single).

Flow test results:

- Could take up to another 3 weeks (Max) to complete,
- Baxter flow rates should be out first (within next 2 weeks),

Any way, that's my interpretation from what I heard.

Good luck to all.