Big differences between TSV's find and CVN as I'm sure you know....

Big differences between TSV's find and CVN as I'm sure you know. The biggest ones being finding far in excess of what was thought to be there versus finding far less than hoped for and the TSV find being close to existing infrastructure vs no useful infrastructure at all.

A problem for CVN investors going forward is what is the plan from here? Do we wait another 12 months plus before another exploratory drill? The share price is sure to suffer despite the cash backing.

There is plenty to indicate that this IS an new oil/gas province but there is nothing so far to indicate that what is down there could ever be extracted profitably. ROC has been a big disapointment in this regard.

Indications that an "oil fairway" existed between PS1 and ROC was one of the big hopes from this drill but idea now seems lost.

We are now a purely speculative explorer in a sector that in the short to medium term is unlikely to see significant price improvement and we are looking offshore where production from any commercial (volume wise) find is in a higher cost environment.

I really don't like feeling negative about CVN as I was lucky enough to ride the profits from the early Thailand days but now I'm back where I started so I'll be sitting this one out for now.