fyi, page-18

Hi Sparkler

Yes the 31/32 blocks are adjacent to the Falcon blocks.

There is no doubt the Falcon x/06 blocks show huge promise even if by association to the original 15,17 and 18 blocks.
In fact the first exploration hole on 15/06 was a success.

Block 32 is slightly different. Eleven successful holes have been drilled and proven reserves have been established. Exploration is pretty much complete ( very little further expense and no risk) and the big boys KNOW how much oil is there. That's why they will pay up.

At this stage the falcon blocks, while extremely promising, are still at exploration level so they will have to wait a while for the Gazzilions you mention.

You wrote:

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.

The $68 Million covers offshore AND refinery rights
It is understood that 41% of Falcon's ownership of the three blocks is the full extent of the offshore rights.
There is no more available for CVI to sell to Pensador at a later date( from what we are told). The $1.1 Billion is not a function of additional offshore rights yet to be transferred.

CVI will get ownership of Pensador and the $1.1 Billion that comes with it from clawback through supply to pensador of CVI shares.