Dave, Imho we should hold the 20% through into production at least, and through a bit more exploration. But then there becomes little point in selling, or even reducing, as the expected strong cashflow is then going to fund everything else. This is the company maker for CVN. In that context a little bit more dilution (if even required) is not such a big deal.
The O&G industry has strong unpredictable cycles, and this most certainly is not the part of the cycle in which to provide another company with a bargain.
This is also mostly why we are not getting a deal for Buffalo atm - Adrian is not stupid. He’s preserving future options whilst currently nurturing our one and only near certain company maker. EL
CVN Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
(20min delay)