Unfortunately we are where we are.
In hindsight we could wonder on the specification of the drill string and BOP installed for PS 2.
Now we have at least 6 if not 9 months of zero drilling.
Undoubtedly
Roc 2 was a great result, world-class.
Phoenix South 2 was exciting and huge upside but no definitive result. Cost another $60 to $80 million to prove up.
Going forward CVN going to be cum-issue to fund further programs unless they sell/farmout part of there holdings.
Possible opportunistic T/O by WPL etal.
Meanwhile there more exciting opportunities to play in the market so expect CVN to drift sideways to down.
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CEO Newsletter 23 Dec 2016, page-10
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