Ann: Change of Director's Interest Notice, page-4

CVN up 18% yesterday on the early but favourable Pavo announcement. IMO this adds to the evidence of the East Triassic Channelling System and more indirectly, the North East Branch of the same system. Same time period and we think our branch is analogous to the Dorado/Pavo east branch. The NE branch runs into the South West corner of our large square permit per below. Our forte is in deal making, bring it on.

There is also a big macro/cyclic element to this play. TDO has built and funded its offshore portfolio through an extremely low period of global offshore exploration activity in the last 5 yrs. If the world is to power itself, that low period must be replaced with an extremely high level of activity. Renewables/replaceables can't do it. Oil and gas will remain the practical energy dense source of supply, but it's going to get expensive.