I got it from the horse's mouth, so to speak, in answer to a direct question. I was very disappointed with the answer. At the end of the day I guess every contract that is negotiated can vary according to economic and market circumstances at the time in the industry concerned. The question can be asked at the forthcoming AGM. Personally I have reviewed, negotiated and renegotiated contracts with companies such as Esso Minerals, CRA (Rio) and Placer, but all in the mineral exploration area, not oil or gas so I'm not certain about contractual norms, if any, in the latter area.
If you are going to the AGM, which unfortunately I won't be attending, I would be interested in the MD's explanation of the size and makeup of both the exploration and administrative expenditure for the recent September quarter. Cash burn is now a very major issue for the company.
CVN Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)