Ann: Buffalo Farm Out Update, page-40

Short answer in my opinion is none.

I remember a report that quoted Buffalo being worth around 30c per share to CVN. I think the writers were only applying a 10% risk valuation of 3c to the share price for the oil in ground at the time.

If they are spending $0 to drill it to give up 50% then worst case should the hole be dry we should only drop by 1.5c however we are drilling an historic field that was producing at 4k bopd so that chances of it being dry IMO are about the same as a fact appearing in that article on the other thread. Reward should be at least a couple of cents which is about how much sense our neighbourhood shorters have. But then again anything is possible with the asx?