Well my read is management seem encouraged by the ICD program in volcanic res.
Shows a bit of promise IMO.
And we have the sandstone drilling to come.
With no seismic surveys to pay for in the next quarter does this free cash for a second more efficient drill to drill the sandstone res ?
Probably does IMO.
As I think we can assume it would pay for itself in sandstone res drilling.
Will the big drill more than pay for itself in the volcanics?
Probably would IMO as the ICD's seem to help here.
And I don't think it outragous to predict growing cash reserves in the next quarter and from then after IMO.
I think this may of turned the corner and we have seen the low in the sp IMO.
What's everyone else think.
Cheers EWO.
Ann: CVN Quarterly Report , page-2
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