CVN can afford to drill. Someone said they are looking for a...

CVN can afford to drill. Someone said they are looking for a rig. With interest on the cash stash paying the slimmed down corporate costs and with buckets in the bank a bit of drilling would be great. Drilling success to date has been nothing less than astonishing. About 70% or even higher which goes to show how prolific this shallow water basin is. I recall someone saying a single drill hole would cost anywhere between USD20m and USD40m depending on depth and geology etc. Not cheap but CVN's share is now slimmed down at between USD2m and USD8m for each hole. Bring it on. We all need a sugar hit although booming world equity markets are helping. It's been too long with "FID ready by 2024" being the mantra since the Pavo 1 discovery. I'd bet my left one that Pavo South has oil and gas. COS are very high (can't remember it but well above 50%). Then there's all the newly identified target from the recent 3D seismic survey that are supposed to have large gas accumulations. Only trouble is they keep discovering oil when drilling for gas. Not a bad problem to have I say.

Gallagher's caution on development before regulatory issues resolved will be his mantra to kick the FID can down the road. Also he's up to his neck with Barossa and Pikka.

In Trump's words (and BTW I loathe the man) - Drill, drill, drill.