4.The partner having an effective first right of refusal and to be entitled to buy CVNs 50% share on paying a "fair" price. NB- no competition for our partner in acquiring our 50% allowed.
The agreement would provide for multiple valuations by known capable independant operators and CVN would be bound to accept their
decision on the price to be paid/received.
5.No sale until certain (probably multiple) triggers are hit.These would include the effluxion of time,the completion of a certain numb er of drills etc.etc.). As CVN wont want to sell before the resource has been sufficiently drilled/explored,nor the partner want to buy for much the same reasons.
You get the drift- its a deal that is based on quality people dealing with quality people and with both parties getting a fair deal .And only 2 parties!
What should be obvious is that CVN will almost certainly eventually need that larger (production) company-they for their part need good leases,partly proven.There is a closeness going to develop between the 2 parties. CVN doesnt need to worry about getting zonked by the legion of sharks,downrampers,market manipulators et al. This is a deal between 2 O and G companies of repute,at different ends of the same chain.This is the REAL world.A second or 3rd partner is just not needed or wanted for Cerberus.
CVN Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
(20min delay)