Positive Movement, page-72

Look it is not a worry for me. In a perverse sort of way I see the slump in POO as a positive for CVN. The fall in POO has taken me by surprise but I see more positives than negatives, mainly the still increasing demand for oil and the lack of developments over the past few years, its a very fine line to turn the POO up again. With new developments financiers will look at country risk and I am sure they would prefer Western Australia to say West Africa . CVN also fits the bill on lower development and production costs, compared to deep water development say off Brazil for example (seem to remember $50/ break even mentioned on that one). So CVN goes ahead with development while others are put on hold. CVN then moves towards production at the right time , hopefully on a rising price and shortage of supply. The only possible damage I see in the short term is the s/p moving lower..