fyi, page-13

Hi 123enen,

The US$2billion (19%) sale of Block 31 is adjacent to CVI block 15/06 and Block 32 is adjacent to CVI Block 17/06 according to the latest CVI shareholder update.

Based on the the 2billion valuation for 19% of block 31 - that gives a sale value of $8billion.

Therefore one could conclude the 4 CVI blocks are worth a gazillion.

Basically CVI is 'handing over' to Pendasor their rights to a share of 4 offshore Angolan oil blocks for $68million. While details of CVI's interest in these has been kept out of the spotlight - the $68million seems to be a give away price.

Therefore CVI will sell their interests in the 4 offshore blocks to Pendasor to get the 1.1billon funding. No doubt Pendasor will sell those interests to someone else for a very nice profit.

In short CVI swap their right for interest in 4 offshore oil plays (two of which are next door to Block 31,32) for minerals/refinery/logistics etc plays.

Watch for headlines relating to the finalisation of the sale.

Cheers,
The Sparkler