great deal for cvn!!, page-13

Am I missing something here, CVN increased the funding cap $20M up to 70$M now, depending on what the operator decides to drill, in exchange for options on the rest of their permits with no cost carry through? We don't really have any more potential upside now apart from the drilling itself. Maybe I am missing something since the market seemed to react well.

Considering we were short on the capital raising and out of other options we were not really in a good bargaining position with Apache. Like with Thailand now I do not see having a majority partner with deep pockets being a safe bet.

Knowing how long some names here have been in, I seriously do hope that this news gives you all a nice start to the New Year.