roller coaster ride ahead for ctr

Going to be an interesting few weeks for those that follow Citation and its interests in potential company making development well Atzam #5.

Some companies don't provide progress drilling reports preferring to wait until the a well has been drilled to total depth before updating the market'

Others report oil and or gas shows on the way down regrettably finishing with testing proved the shows to be sub commercial(a la Neon)

CTR has usually provided regular reports while drilling and quite detailed ones at that.

The company has the capability to actually test shows on the way to total depth. So we could expect reports of oil shows for example in the C13 reservoir with the comment that tests of the shows will now be undertaken and the results reported subsequently.

So we could have this titillating series of reports on oil shows then perhaps a report that tests showed them to be sub commercial, then oil shows again and commercial/not commercial and so on. The share price will be pushed and pulled around depending on the content of the news releases.

It will be a fascinating ride and perhaps the best fun in the sector for years. The volatility the bread and better of the more disciplined trader.

Things to bear in mind include the fact that almost all previous wells certainly A3, A3a and A4 had drilling issues due to unexpected high pressure intervals but hopefully the drillers will be better prepared for that contingency in A5. The well results have improved as the drilling locations moved south so this being the furthest well south yet could be the the best yet. Soon see.