interesting alternative scenario to report

thanks to Gov and 242,


"L1234, sorry in advance for any guttier, gutter, gutted, gluten, gluts miss spelling, written on an Ipad.

The following observations are all based on authors self assessed interpretation of the recently issued CTP quarterly report. Bleeding hearts may differ, in fact where is bleeding heart, after having been proved wrong time and time after time he has disappeared with tail between legs to the safety of threads where thumbs up are given in droves

A picture speaks a thousand words folks and as suspected, my assumption was indeed correct, a rather bland first page with nothing more than repeat IMO of sweet nothings and basically same old comapny generated pitch. Another non eventful quarterly report released by your company (CTP) yet once again. For this author at least, another disappointment in relation to progress made and detailed information (sale of coal) provided. I have personal and seriously doubts with CTP's ability to progress beyond what looks like snail pace mode and a business plan that looks in my opinion like failing. The state of the current SP and options supports my assumption.

Whoops, wait for it folk, during the quarterly they (CTP) stated that they had advanced farmouts with "Santos and Total proceeding towards completion". Really, I ask yet once again, what progress CTP, is it 1%, how about a massive 5% progress. Folks this progress made tells you nothing, absolutely nothing at all. In fact was'nt the initial STO exploration schedule to have commenced during 1st quarter 2013 ending. Hence, in my books we may already be behind basic project execution scheduling.

So, your organisation based on my assumption is still seemingly protecting the entity who has made the deal of the year by stripping the Company’s Perdika Basin coal assets for a pathetic $1.8 million cash. CTP, why and who are you protecting? why did Petroleum Nominees unexpectedly dropped their litigation? was a deal done. Why was the coal not put to tender to maximise share holder valuation of asset. Why why why why why??.

I made mention to laziness, tight fist and/or a combination of both in a post of mine, as an extension to these comments once raised, has any one drawn the line to the dots. Rawson were provided with 50 million ordinary shares which at the time (past tense) represented just under 3.5% of Central. I suggest any laziness or tight fisted syndrome be swiftly replaced with good investment absorption of information. To join the dots, did anyone get of the fat chair, let the fingers do the walking and opened wallet to allow the months to breath fresh air, try it, you may just like what you see ot not. Top 20 information is not secretive chaps, but it does take getting of the chair and forking out mnimal expenditure to find the truth.

Much about nothing was made by the hopefuls of a $100,000,000 spending of exploration activities in the Northern Territory by one(1) of so called big Aussie gorilla. The company has informed you through past presentations and enforced yet once again by the qtly report that less than $30,000,000 shall be spent on exploration over a 12 month period.

Does'nt CTP have a preferred sub contractor data base, are CTP required to audit and assess more suppliers/vendors/contractors for provision of service and drilling equipment, especially long lead items. Come on CTP, all of these fundamental project management processes should have been undertaken long ago, what happend to past vendors used for all other drilling activites by CTP. Don't give me the move from Perth to Queensland as an excuse, after all, how many specialised drilling vendors, supplier contractors are their in Australia.

"Rigs are currently being sourced for the Surprise development/exploration project" but wait for it, there is non available in Australia for at least 12 months according to your CTP stand up and radio representative, go figure. Hey, maybe STO can help on this front as they helped with the bean counter deal.

Why has the Environmental Management Plan (EMP) not been completed, how long has the discovery of the oil been been, how long has the extended production testing been completed. Is it another case of document review cycles leading to revision 0. It would also seam as if other basic documentation such as, the Regulator Compliance Plan and the Heritage Management Plan may still be in development stage but again only assumption based on my interpretation of the report.

No way IMHO will the options get into the money under the current proposed exploration schedule. However, your company has once again buttered you all up and state the following "partial farmout are among options for the development of EP115"

Will CTP be as secretive as they are with the selling of the coal asset, will CTP inform you as to whom they will farm out EP115 to. I guess that STO may be high on the list, they seem to have a form od controlling effect on CTP, what a shame JH no longer oversees day to day management of this organisation.

Blah blah blah, I could continue, but the drum beat for a typical CTP shareholder goes on and on and on and on and......

Yet another disappointment from CTP, the new CTP trend continues, bring on the AGM. Time to water the Dazzy. "


"You couldn't be more right governor!

RC is just delaying everything and trying to make it sound like he is progressing matters. But he has not progressed an inch. Everything he said is just spin. He is totally now in a position to delay everything with Government bureaucracy and with the aboriginal production agreement that needs to be signed first before a PL is awarded over Surprise and just talk and talk and talk about progressing matters which is simply BS.

He has not informed us when he expects drilling will start at Surprise or anywhere else for that matter. He does not even tell us when Santos will drill Mt Kitty but Santos previously indicated later this year. Why can't RC tell us this. Not material but it is!?! What a load of ****. I wish I could be more positive about something he has done but I am absolutely sure that the plan of RC has to do with his Santos mates than anything else. He speaks again in the Quarterly of the options (which are WAY OUT of the money) bringing in those precious funds next year. Well the only way he can speak like this is if he knows for sure that his mates at Santos will underwrite the shortfall in exercising the options. Another-wards he will simply hand 17% of the company over to Santos via the exercise of options while keeping the share price as low as he can to enable this to happen!

The Quarterly said nothing new except a 2 well program planned for Surprise. But that means nothing as his story will change before we drill (God knows when) because Santos will change it for him. All that Santos are waiting for are the results of the $100M program they have planned for Mereenie over the next 12 months. Seems to be about the same time that Cottee indicates rigs may be available. Do not expect Santos to release the results of their Mereenie drilling to the Public for years. Santos are IMO going to try and get those tight reservoirs in the oil pay zones at Mereernie to flow using horizontal drilling techniques which should work and they will test the area in the Mereenie PL to see if they can flow some oil or gas from the shale. If this works then Santos will exercise those CTP options IMO and take control of our Company. This $100M Mereenie project is very important to Santos and could provide a major source of income for them and RC will be there ready to hand our Company over to them for 16c a share in exercised options. Santos know the huge worth of the area from Mereenie to at least Surprise (some 250 kms) which is all a new oil province worth potentially trillions in revenue!

Also what happened to bringing Surprise into production in the meantime like he recently announced to the ASX? No mention of that in the Quarterly. I guess RC thinks we don't need the money! Why? RC will not give us time lines for drilling anywhere because he knows it is not his call anymore.

I am starting to think that an EGM should be called at the very least to have the Board and particularly RC answer the many important questions that shareholders deserve to know. RC is obviously keeping important info from the shareholders. He is running CTP as though it is his own private company.

As for the share price. It spiked for a while yesterday in anticipation of some positive news in the Quarterly. It did not happen. There is hardly any buying volume in CTP anymore and especially of late. There is a good chance that the share price will close under 10c soon and then panic selling will occur and wouldn't be surprised to see it back around 6-8c for the remainder of this year unless RC pulls his finger out and starts working for the shareholders of Central Petroleum and not the Santos shareholders and not for his own personal gains thru his options which IMO Santos will probably pay a nice premium to him to collect that bundle. "