Santos reviewing projects, page-7

With the way the oil price and the world economy is going they might better not doing any more drilling.
If this gets much worse they might be able to buy Santos for $100M in six months time !

In all seriousness in six months time there will be some fantastic bargains out there and lots of opportunities to takeover distressed producing oil companies at heavily discounted prices.

Just look at BPT the last time the oil price crashed.
They bought some really cheap producing assets and rock bottom price and their share price jumped from around 60 cents to $2.77 in just over two years.
Yes there share price has now come back to $1.00 due to the current carnage but they managed to use those assets and the rise in oil price to get debt free which puts them in a very strong position compared to oil companies saddled in debt.

If CVN play this right they could do very well out of the current situation so I do not think its worth risking cash on further drilling right now.