For those who haven’t read it, the comments below are from the...

For those who haven’t read it, the comments below are from the latest Euroz report. Interesting to hear they expect approval in the coming weeks for the Quadrant takeover. At the moment that appears to be a significant catalyst for an increase in the share price as it will remove some uncertainty regarding the partnership with Quadrant/Santos. Euroz are unsurprisingly bullish given their neck is somewhat on the line here but they certainly make some good points. Some progress on Buffalo regarding political activity etc and partnerships would help too. We’re on the right track and I look forward to attending the AGM in November. Good luck to all holders and look forward to more green days ahead.

“We see little downside to the current share price as a consequence and contest that CVN will be a target of M&A in the short to medium term.


Investment Thesis

Dorado is a material oil discovery and one of the largest ever in Australian waters. Moreover, the discovery has opened up 4 new oil prone plays within a largely untested, large basin, within shallow waters, Australia. What we like is that oil discoveries in shallow water and benign jurisdictions have relatively low barriers to commercialisation. It is for this reason that we believe that CVN’s interest will be coveted by industry and lead to potential M&A. Recovering oil prices are stimulating permitting and M&A activity in the E&P industry: this result will clearly shine a corporate spotlight on CVN. ACCC endorsement of STO’s purchase of Quadrant’s assets in the coming weeks is the first point where we feel initial corporate approaches for CVN’s interests will be made. We retain our Buy recommendation believing that CVN has identified a new commercial discovery in the NWS and can also take the Buffalo oil project through to commercialisation. In either instance, CVN will realise a much higher share price.”[/QUOTE]