Reserves upgrade, page-91

Just a side discussion and neither cross promotion or having a dig.

Remember earlier in the thread the discussion about valuing Resources/Reserves and I made a comment about how sell side analysts were writing up 2C Resources at AUD$10/Bbl  ... with the stock in mind being CVN and their recent discovery ... which of course is mostly oil (65%).

So now the update for CVN Resource is 57MmBOE. Stock has fallen mightily from the Dorado delights and then the Phoenix "phalings" ... looks to be trading around 37cps or $440M MC --> $7.72/Boe of 2C (which is just Dorado and not the surrounding areas  or the Buffalo project).

Now it gets closer to a reasonable number "all things considered" ... happy to pay AUD$4.75 or about US$3.50 for 2C (B+D = 88MmBoe) ~ 34.5cps