fyi, page-16

Hi BY,

No doubt about it that the onshore plays and minerals play will be very lucrative.

The Chinese have a tonne of experience in offshore oil, since they've been doing that on their own turf for yonks. They tend to bring in their own resources though (staff/machinery etc etc). The US are the big players in large offshore oil projects. CVI would be correct to swap these interests for funding the onshore oil/minerals plays they currently have and have positioned themselves (via management experience) likewise it seems. Large offshore oil plays would be out of CVI's depth imo.

All in all pretty comfortable with purchasing at 11c, but the 1.1billion funding is crucial.

Cheers,
The Sparkler