Selling desperate, page-13

Selling desperate? I see CTP has being a beacon of light in this sea of red! How many other oil and gas energy stocks have held up like CTP has over the last month...

I've continued to buy as the NGP / GAP process has derisked. I think others have too.

I put the strength of the SP mainly down to the recent presentations. I really, really, appreciated Leon's comments in his MD presentation where he:
1. Outlined forecast net debt reduction of $22m in CY19 (which is inclusive of drilling costs of Ooraminna-3)
2. Is seeking a reserves based lending facility (benefits are multifold but with the most significant being reduced interest costs and further derisking by distancing from MQ.

There is lots of other goodies in there too that hasn't been communicated before:
- Looking to initiate analyst coverage.
- Noting that there is capacity to grow (in CY19?) by sending down upto 20 TJs through the NGP that is currently uncontracted.
- Applying for further QLD CSG permits
- Value add to LPG, local refining etc. Buru were always looking to this and haven't done anything in 5 years so it will be interesting to see if CTP can actually do some of these activities.
- Farmouts.
- Strategy of divesting unused permits (cough, cough, Surprise) and any others that are draining cash.

RC said if CTP wasn't 30 to 40 cents by year end, it won't remain independent. Bring it on...