really depends on CR rate versus divestiture rate as to which is more beneficial. divestiture restricts the dilution to dorado (or related) fields, whereas CR dilutes all holdings. If we assume CVN sp is undervalue then divestiture is the better option. if CVN can coordinate it's divestiture with STO or, better yet, piggy back off of STO then they are in a better bargaining position than doing it solo (or first)
Ann: Corporate Presentation, page-21
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