Ann: Board and Management Changes, page-110

Good day ohyeah76,

I think it will be priced in, in any Take Over offer.

Unfortunately for CVN, (unlike STO), it did not have a business generating income, whilst waiting for FID and construction of Dorado.

And the Black Swan event of Covid; the delays from NOPSEMA; and priority policy changes at STO, didn't help our cause.

Those events (uncertainties) really killed the share price of CVN.

Nonetheless, we do have the goods: Dorado., Pavo and then there is ROC for gas. People seem to forget, its NOT easy to find Multi-Level Reservoirs with good quality sands. Then, there are other prospects nearby that have not been drilled thus far.

This whole basin could have delivered 500M barrels to 1B barrels of oil and gas equivalent, and put CVN on the Map, as an independent producer. That was the potential.

However, that was not to be.

At the end of the day, it was the holders being impatient to the "Waiting game" that prompted this change in strategy at CVN.

Lets hope a good price is achieved for long term holders who bore most of the risks.