fyi, page-19

Sparkles, I don't believe CVI are swapping offshore oil for anything.

Pensador are purchasing 40% of Falcons offshore oil blocks. This is coming out of the 1.1Bill.

Falcon are an existing minor holder and therefore Pensador an even smaller holder and obviously not the operator so needs no experience to explore or operate them.

Pensador will disolve into CVI in November and therefore CVI will own 2% of three blocks and 4% of the other, who cares who operates them?

Until then we own 6% of Pensador. Therefore the value calcs can be done on 6% of (2% plus 2% plus 2% plus 4%) of total block value.