back to basics very nice, page-31

Raks, remember it is hard for some of us to be objective when we have seen 90% of our cash disappear!

Hi Danny

All I would recommend is to look at it objectively. I was chatting to my Father today about it and how I wish I had used a stop loss back when the stock was above 20 cents.

Perfect hindsight is not going to do anyone any favours however and we have to deal with the situation we are now in.

Right now, the stock is a buy, sell or hold depending upon your personal circumstances. CVI has always been a high risk high reward play, and unfortunately, several of the risks have been realised which is why the stock is now about 3 cents.

Descissions can only be made with the information we have, so we have to weigh up:

Repeatedly missing deadlines

Failing to secure oil and gas assets

Often incomprehensible announcements

Broad market uncertainty and likelihood of further freezing up of credit markets

with:

World class copper and other mineralisation

Excellent contacts with key people in Angola

Bad news is now out of the way - risks have been realised however they are now announced and behind us

Possible turning point in the market with the US rescue bill

Everyone needs to weigh these things up as to whether they should still hold the stock etc.