Disappointing, page-20

I feel for those who have a lot tied up in CVN. For me it's less than 1% but it still hurts. There will be a payday but it's probably at least 2025. While STO has huge growth potential in Pikka and Barossa and devoting huge CAPEX to them before cash flow 2025 and 2026 we here at CVN have huge growth potential and a bag full of cash waiting for STO to pull its finger out.

The silence from our supposed hero, Rusty, is deafening. I think he's starting to realise how tough this O&G game is and his own fallibility after some good deals in the rear vision mirror. Lots of poker faces around the deal tables and no-one blinking yet. The O&G game (particularly offshore) is a long one and i've learnt a tough lesson - be patient.

Will I buy more? Probably but the SP needs to be much lower to make it worthwhile. Not sure it will get there. Maybe this current sellout is the short term speculators bailing out after waiting for Rusty. Volumes certainly reflect this. ST speculators are impatient investors.

Stepping back. Current SP is a discount to net cash and CPC receivable. Go figure