where to from here....

Im fairly happy with the Reserves Report matters and commentary thereon.
If you think that CVN has a pretty good platform to head north from you have probably considered the recent announcements carefully.I think that it is worth listing key items that affect upward progress and which have just been made clearer for us (and about time!).
1.The S regime. Did it strike trouble in 2012 and look as if it might not produce the goods?

I think the answer is a pretty simple "no".
2. Is the water flood tactic designed to solve problems in an S reservoir or is it generally an enhancement tactic.
The answer is its the latter.
3 . Has Towngas been working on a" cure "for past Volcanic problems and have they made worthwhile progress?
The answer is easy enough to arrive at (IMO).
The V wells that watered out spectacularly were the "coke bottle" wells (e.g. 3500 and 5000 bopd),ones with very high reservoir pressures.There is no silver bullet for these high pressure wells and the solution needed to produce lasting (much lower but ongoing ) production is "reservoir management"
V "reservoir management " practised so far has been to drill where they have drilled earlier and where the expectation is that the reservoir is known or believed to have fairly low pressures.
The partners tactic,so far,has been to go for 500 to 800e" bopd targets and ideally several of them (say 3-WBV1,2 and 3) as in the latest drill. I dont know for sure that these 3 compartments all are believed to be low pressure situations but it is a pretty good bet that they are.