And I respectfully disagree with you!The minute CVNs share went...

And I respectfully disagree with you!
The minute CVNs share went below 50% in the original farmout to Apache & JX Nippon is when any voting strength in the Joint Venture was lost... and that was when CVN had nothing in the bank and nothing to sell but empty untested acreage. Apache and JX Nippon farmed in and drilled (paid for) the first wells by the JV.

The operatorship (and dominant holding in the JV) went from Apache to Brookfield to Quadrant to Santos, and along that journey they a) accumulated the interests in the acreage from Finder (CVNs original 50 :50 partner); and JX Nippon; and b) spent a LOT of $ getting seismic data and drilling wells... from CVNs perspective.. it was Other People's Money. ie the other people took all of the risk. CVN is now left with 10% or 20% (ie Dorado vs Pavo) of some very good discoveries, but without any remaining voting strength because that was the price of getting the exploration done. Without paying that price, the exploration would never have been done, and CVN would now have nothing.

CVN is lucky to have the remaining 10% of Dorado and 20% of Pavo. Finder were not that astute or lucky.