Ann: Half Yearly Report and Accounts , page-23

Hi Cad1llac

I agree with the 2p range you have given for the upcoming reserves upgrade.

While I am also awaiting it eagerly a concern I do have is that reserve upgrades in general just aren't real crowd pleasers at the moment. Share holders are far more interested in seeing reserves being monetised.

Would love to see 6000 bopd net to CVN, but realistically I fear the best we can hope for this year is meeting their guidance of 3600 bopd. The March qtr will most likely be at the low end of their forecast (2400? bopd) due to complications with flow rates at NSE-G3, meaning the 3 later Qtr will need to ramp up to meet the annual guidance.

I still like my CVN but just feel the time horizon is stretching out. It has proven quite defensive of late compared to some other shares I am holding, seems to clinge close to the .50 mark or a little under with is reassuring enough.