Spoke to company. Seems as thought STO’s broad and colourless...

Spoke to company. Seems as thought STO’s broad and colourless statement on Dorado has caused the share price decline. CVN very pleased with how activity is fairing in the background, delighted actually. FID will be delayed a few months but March Quarter still the target, difficult for the company to be specific on a target date however. JPM still in discussions with foreign institutions on a potentially sell- down. Cashflow is still positive and cash is building given the reduction in the expenses. Larger CVN holders not phased by delay and know these things can happen. My understanding is the selling has been retail selling and not institutional.

My view is this has created a great opportunity for the market and I will be hitting this very hard now at any share price sub 16c. Fundamentally the thesis is still intact and a delay does not warrant a 20 to 30% decline in the share price.