CVN's recent hole valued at probably A$1.5bn for its 283mmboe. So basically 1.6tcf which is a long way under what you are targeting. Even if we JV this off and free carry early expenses if they can get to 2-3tcf this is worth bags upon bags. You can see why some smart people are excited about this. It could be anything. Plenty of risk to go with it but in my opinion the ratios are favourable.
IVZ Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
