Ann: CVN's September 2010 Quarterly Report , page-15

re: Ann: CVN's September 2010 Quarterly R... Eyes,

May I humbly suggest that you widen your eyes when researching CVN. Suggest the risk is mostly in the geology and little to do with being in the ASX200 etc. Of course success in L20/50 would be huge for CVN and at a guess could add something up to 50 cents to the sp over time if sufficient to really be worrying about the tax rate too much.

As for the Australian leases, you need deep pockets to carry 50% through the kind of multi-well program likely needed for success there, and then it is still risky. Sounds to me that the issue will be as much whether they can get the well productivity required to be economic, as to whether there is enough gas in the ground.

If you think you can find much better amongst the oilers, good luck, most are wasters feeding egos and extravagant packages imho.

EL