EL, I don't disagree and yes the Hartleys $1.15 like any brokers...

EL,
I don't disagree and yes the Hartleys $1.15 like any brokers report has bluesky (ie 28c to exploration, and 13c to WB). Hence why I see CVN as about a 0.90c actual value. The SRB at the current 10000bopd is still a mile off impacting the joint venture and until it does (like the additional bluesky value of exploration) it must be "noted" but should not be counted on todays SP until the reality of that impact is "real".

What I don't agree with you is that POEs market situation vs CVNs situation should reflect the one 60/40 joint venture or as you have said why would ASX punters pay a 30% premium?

The reason is POE has many separate issues which effect it besides the joint venture. Issues such as other projects, securities on issue, market differences, exchange rates, management etc all have a bearing on what POEs TSX share price reflects. Hence why you do not see POE volumes mirror image CVN at the same periods or why CVN fell when POE rises or visa versa (over the past few years)