Compass Venture Inc T.CVI.A

RE:RE:RE:RE:RE:RE:RE:RE:RE:Calvalley Petroleum announces declarati on of special div

[guyf1963]

One thing I forgot to add about diversifying is that calvalley had attempted to do that with the Gimbi and metema blocks in Ethiopia.  I assume that the ground work & seismic work did not show a great potential and they simply did not fulfil all the conditions the MOU.  So, they have tried and struck out and I would like that they get other blocks elsewhere.  They will likley spend in excess of 7M-8M for the special dividend and buy back of shares.  This will only make the SP go up temporarily and will then go down.  IMO, if they would acquire some other blocks and put together ground work, seismic work and spend about $7M (equivalen to what they will spend shortly), the SP would likley move up much more, and if conclusive, this could be another AOI.  They struck out the last 3 wells in block 9, spend probably 4-6M in this undertaking.  So, to spend this money elsewhere can be as good as in Block 9.