Great thread guys.
The elephant in the room is of course the JH court case. We should know the result of that pretty soon, and if JH is entitled to compensation he could be the recipient of X millions in CTP drilling funds. This is something that RC must take seriously.
Considering everything, I agree that it doesn't look like CTP is in a good financial position to afford developing Surprise at the moment. RC himself says he doesn't like going to market to raise money (or "opium" as he calls it), only doing it twice back in QGC days and once since then. And as paulharris rightly pointed out, he can't do another placement until July. Farming out Surprise is an option, but this has been the case for the last two years, so if they went with this it would be a change of strategy.
Given the low share price and the still relatively small number of institutions holding in CTP, I think RC should prefer to do another placement with a friendly face as a means of protecting his board position and further restructuring the register. This would provide the capital necessary for Surprise East and a couple of fracks.
Besides, there's still a lot of excitement to be had this year with Mt Kitty and NW Mereenie. As speculator suggested, this could make getting a bank loan for Surprise (and the rest of PL6) a whole lot easier. They could then afford in one swoop to drill Surprise East, Deep, West, North, South, Up, Down and then stick a refinery near alice and snatch the diesel market like paulharris suggests.
I think the rest of this year is going to be the most interesting in the company's history.
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