Member Info for Gudin

The last rns stated testing was suspended and testing was interrupted but further on states "our focus will now shift to proving the deliverability of production wells"
Does anyone actually know what is happening?

$8-13m based on what? Assuming you have a link to these Texas day rates?

Taken of the watchlist good luck with your position.

Missing the point, these should be readily available without the need to email the CEO. IIR, breakevens and reserves are basics got to wonder why these are not published.

Good luck with your speculative punt as there is currently insufficient information to call this an investment which a company with production should really be.

Is there alot of information on the website? The Stanley project has a whopping four lines and a picture of a tank. Informative.
As a shareholder answers to these questions should be readily available, can you answer them?

IIR for Stanley?
Reserves for Stanley?
Breakeven for Stanley?(actual breakeven not a "mid teens vagueness")

Should every potential investor email John with queries? Ask John and let us know the reply, I have asked about reserves previously maybe you will get an answer.

If there were very few questions then maybe they should of used it as an opportunity to provide more comprehensive answers. Very few question suggests a disinterested shareholder base which is not a particularly good sign. If current shareholders are displaying a lack of interest it is likely to be similar to potential new investors.

Current shareholders only and that Q and A is one more reason why I will maintain my watching brief.

Now for an accountant that JB is the investment strategy for Stanley was a bit wishy washy. The investment strategy should be based on IIR no mention of that. Anyone have any idea of the IIR for Stanley wells? Reserves for Stanley? For a six well project there is a dearth of information.

What questions did you ask?

Poor must have took all of five minutes to knock that up. Given up even pretending to care about shareholders.

Thanks Keith,looked at that but never got that far down as dodgy memory thought it was a separate report.

Three year initial term and two year extension. Expect the two year term will have progress clauses, but the seismic and two wells drill will more than satisfy this if that is the case.

Does anybody have a link to the cpr please? Cannot seem to find it now.

The disputed invoices of less than 5% of current cash have me terrified. If they become undisputed how are they ever going to pay them.

Thanks its good to hear the company are responsive to emails.

What makes you so sure they are working on further transactions?

Its not flying because they have just released news about spending another shedload of money for very little return.
Why do shareholders have to nominate a replacement, that's the rest of the boards job.
John needs to go, he has spent millions for very little return. As a bare minimum the CEO/Chairman job needs splitting preferably to an CEO with oil experience and US based. Andy needs to go as well as his consulting fees are not justified by results and there is no reason why he should be Australia based as the oil assets are in the US.

Used to be a shareholder here but sold after communication with John as he actual thought he was doing a good job. Would buy back in if he is removed or sidelined to a Chairman role. $245k he received last year, there will be plenty of takers for that kind of money.

If you need an RNS telling you its going no further then I would rethink about investing in oil stocks. A 12m gross standalone offshore of this field size is not getting developed. Why have CVN not clarified if they have been misquoted?

Was posting on this board before the drill was even started defending the company, must be playing a long game. A side track will prove nothing. Buffalo is done, all the clutching at straws is giving false hope. CVN have access to all the information from the drill and they are the ones that spent a fortune on the reprocessed seismic and they have stated they are not going to progress further. As clues go they do not get much clearer than this. Side tracking, wire line logging and all the other wild theories are not going to change the fact of a 12m gross oil column.

A side track is not going to add anything new, a side track will find the same 12m column. They do not have the funds to do it either it does not matter how quick the drill was. It will cost extra to drill a side track.

A side track only makes sense if they drilled on the wrong side of a fault line, if they side track from here they will find exactly the same 12m column. Plus they do not have the funds to do this. The seismic interpretation was wrong there is no magic bullet to fix this.

Fair enough the wire line is not going to change this though. Buffalo is done a 12m gross stand alone offshore oil column is not getting developed.

That's the concern and probably another reason for the silence as the plans are in tatters and there is probably some resetting going on in the background.