Sky Biz this morning., page-92

Unlike most of the oil explorers and junior producers, CVN has LOTS of cash.

And capitulations has NOT yet occur in the oil market - IMHO, we got another 12 months to go.

So we should Not rush out there to buy something, for the sake of trying to prop up the SP.

BRU "may" be one of the companies that fit our profile, but lets wait and see.

At the moment, its better to return some of the monies back to Shareholders (if we want to support the SP).

And focus of analyzing the New Seismic (the $50M outlay) and existing results from PS1 and Roc.

We need to fine tune what we have discovered and understand what is down there, better.

The belief by management that there is oil and gas down there is correct - we hit two for two.

Now, we need focus on finding one which is economical.

Lets remember, the first Exmouth oil discovery was Not economical - it was the subsequent searches in the same area that opened up the bonanza.

JMHO.