Ann: Investor Presentation, page-19

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01/02/17

10:56

Post #: 22280687
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Originally posted by Cosmoterios ↑

Ok, just got back from the Investor Presentation.

Quite interesting - I would encourage CVN investors to attend the next one in Sydney.

Any way, here are some of the interesting things I remember Adrian mentioning:

1. CVN could become the next WPL - we made similar discoveries in somewhat virgin territories.

2. PS2 volumetrics will be out between 4 to 6 weeks - they reckon the volume could increase to around 600 bsf.

3. And surrounding areas (traps) to PS2 could hold multi TCF and hundreds of millions of barrels of condensate (refer to page 10 of the investor presentation).

4. PS3 will likely be drilled in either late 2017 or early 2018 depending on analysis of PS2 results.

5. Dorado is next to be drilled - at the moment, its forecast to be drilled at around Sept 2017, at a budgeted cost of USD $50M (with the enhanced casing to take account of increased pressure). We will be using a Jack-up rig. I spoke to Steve Molyneux separately, and he said (according to my interpretation) there is a possibility that Dorado holds gas and oil at the Caley section (based on review of 3D Seismic results).

Dorado is Huge (btw, so is Bandy).

Dorado, if confirmed by drill tests, could contain multi TCF (if only gas and condensate).

He referred me to page 9 diagram (gas plumes reference), as a sign of the likely gas pressure down there.

6. Overall, our whole basin (within our permits), if proven could contain upward of 10 TCF of gas and at least a billion barrels of condensate.

7. Adrian was excited about our discoveries and prospects - he mentioned he would explore every avenues possible, to hold onto our %, within those 4 permits.

Disclosure: I hold a large investment (large for me) in CVN. The above notes are my own recollection of what I heard during the presentation and answers to questions I asked to CVN management.

As always, you should DYOR.

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Don't be surprised if they get back to re-drill PS2 very soon, unfinished business there.

CVN Price at posting: 9.7¢ Sentiment: Buy Disclosure: Held
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