CVN Value and Share Price Catalysts, page-29

Whoever has been looking at the Santos Dorado asset would see that CVN is significantly undervalued, so I see a takeover offer in the works now that the exploration wells have been drilled. Who would make a takeover offer during a significant (for CVN) exploration drilling campaign?

People will jump at it at a lower share price than the company is worth. In my view CVN is worth at least A$800mm based on 2P contingent oil resource (excluding gas) and current oil price (based on NPV10 after tax). If you risk in the Pavo southern accumulation we are looking at ~$1,100 MM of value. An offer in the 0.45 to 0.50 $/share range is my suspected share price takeover offer that would be fair value based on the data we have at hand... won't be sell for anything less (unless the bedwetters sell out to a compulsory takeover level).

CVN is worth significantly north of a billion $ when one considers the exploration upside and the value of the gas........ but current punters will never realize that value.

Cheers Cockles