some very loose math here.CVN share of capex is A$580mshortfall...

some very loose math here.

CVN share of capex is A$580m
shortfall (60% funded) A$240m
opex to production A$80m
less cash on hand (A$140m)

cash required $180m

if that was all funded by another cr at 30c, total shares on offer would be roughly 2.4b

based on current 2c reserves that equates to a 30c share price (valuing 2c reserves at A$15/bbl)

a sell down of dorado would be cheaper as it reduces the cash requirement.

based on what we know now, a higher valuation doesn't make sense, obviously a good apus result changes things