Ann: Partial Bedout Divestment, page-49

What I like:
1. CPC appears to be an excellent partner to bring on board. I assume they'd also be in the running to take whatever Santos is planning to divest also.
2. Cash in the bank is like runs on the board for cricket: you might have hoped to do better but at least you've done something and have a platform on which to execute your next move.
3. CVN is in a stronger position to fund Dorado development costs.
4. I'm keen for Dorado to do some further exploration in the Bedout Sub-basin and Pavo. This is back on the cards.
5. I'm encouraged by Adrian Cook's words that "This strong financial position is also expected to support the advancement of low risk growth

through the appraisal and development of the nearby Pavo discovery, and pursuing extensive upside potential via exploration opportunities in the Bedout Sub-basin of the highest quality.

What I'm not so excited about:
1. Future income will take a huge hit.
2. We still don't have a timeline for production.