Ann: Buffalo Farmout and Redevelopment, page-261

For the conspiracy theorists and/or fiction aficionados
CVN SOI ~1.65M Market Cap - $460M Holding very attractive NS shelf oil permits
Vinva Fund Manager - FUM ~ $30B - known to take short/long positions to drive returns. Decode this and they could have multiple accounts/clients currently long CVN by well in excess of their disclosed CVN shorts of ~ 50m shares. Use your imagination on how and by whom this could be used to advantage.
Nero and co W.A fund - hovering with a $137m share parcel. Could be regarded as opportunist . Probably a seller to the highest bidder above a thresh-hold required ROI.
STO- big brother (70/80%) in Dorado and adjacent permits
ADV AIM co - bottom feeder scouring the globe for remnant hydrocarbon investments. Registered in The Isle of Mann which has a zero tax rate. Think they are on a winner with 50% of Buffalo for a bargain basement cost of $20m. Source of funds yet to be disclosed.
CVN BoD/Management - determined to get Dorado into production, seen as a company maker. Skin in the game ( incl prior chairman )
of ~ 50-60m shares plus options.
Hot Copperites - retail dog's bodies sniffing around , hoping CVN will be the multi bagger that provides them the comfort and lifestyle they deserve. Spend countless hours pouring over announcements, news articles, google research trying to determine which way the wind will blow. Then put up posts to bag and brag - in the oft-forlorn hope that they will be liked - or even loved.
Other - pension funds, super funds, Kerry Stokes, SMSF's , the great unwashed.

So the experienced BoD survey this scene and need a strategy to protect the company from a low ball offer , most particularly in the very vulnerable period leading into FID. How do they keep this rolling? Well they could keep the Buffalo in reserve until this moment in time. It is their ace in the hole. Then have it spring to life and gain much needed time and hopefully a lot of cred and money to see this through.

Then (optional)
Dorado pumps 100K boi per day. Successfully drill Pavo and Apus. Oil goes to $ 80US. AC gets Knighthood. China Inc reveals major shareholding
Etc, etc
This is just a rough draft , probably in need of some more sub-plots. Jeffrey Epstein has an I of M hideaway? Comments welcomed.