This is the reason the price action today/yesterday is so significant for CTP IMHO
In addition to this factor in the following fundamental events :-
- Clive Palmer has just "left the building" ie, no long on the register
- Major increase in Surprise field size (My "Guess" is 5 km by 1.5 km approx and "maybe" as big as 3-4 times larger than originally thought) looking at the last announcement diagrams (I stress this is a Guess only).
- JV's x 2 (Santos / Total) to likely to go Unconditional with Cash payment, confirmation hopefully coming shortly and majorly price positive when it occurs Q1 2013
- Surprise reserves statement and testing results shortly along with the Surprise upgrade target likely to be based on Drill "and" Seismic due by end of Q1 2103.
- No dilution for this calendar year and many JV wells to be drilled throughout the year at no additional cost to CTP.
- Oil taken from Surprise same in makeup as oil discovered 100's of KM's away (Common Oil Kitchen?)
- Top Class CEO who has turned an ASX minnow into a 5 bill + company (Queensland Gas Company)
So plenty of upside to be had from here as the uptrend is only just beginning I suspect.
IMPORTANT: Newcomers to CTP should read this thread in its entirety for more background.
All is in my humble opinion please do your own research to confirm the above.
CTP Price at posting:
70.0¢ Sentiment: Hold Disclosure: Held
