Ann: Corporate Presentation, page-17

Roy i have problem with any T/O of CVN when serious equity is available from STO trying to sell a portion of the project -( it may be that once STO do sell a portion then the project will move forward more quickly because STO cap requirements reduce). CVn have set a price to some extent on the value of Dorado with the sale to Tiawan Co - will any new partner pay the same or more??? - it seems strange that if dorado is such a good project why STO have not been able to offload some equity by now - is/are there more Gov approvals needed before a incoming partner will bite?? dunno. I always feel like NWE case etc if CVN is ever to be taken out it will be in the last "mopping up " phase heading towards construction unless they continue to find enormous amounts of more oil etc from the other prospects.

either way i am feeling like my grand kids might do well out of CVN lol