This was a good week, page-5

Freida: Excellent post. Re Cerberus: This presents CVN with a marvellous opportunity since we own it 100%. In short simply cannot see management farming this out at present for exploration drilling to anybody for the simple reason we would be giving away 30%+ of priceless equity in a USD8O+ oil price environment which will surely come about when commodity currencies revolt against the build up of debt worldwide, CVN wants somebody to come to us with a proposal rather then us putting up 30%+ of Cerberus to become free carried. Different matter if the POO were USD100 plus.

IMO we have many other short term options to increase shareholder value which are unfolding.