need good announcement, page-8

I hope you are right Snacks.

The sp is down, but on low volume so no need to panic.

I had a good chat with my mate who works for santos about ctp. He has always said it's the helium drilling that he is holding out for (he doesn't hold, he'll buy later).

He said that Blamore is a very important hole for ctp. In the past the ctp boys have been very upbeat about blamore.
They have moved into a very unproven area. Blamore is the standout target, as far as ctp are concerned & oil here makes all their other targets look brilliant. He suggests a find at blamore and ctp's other oil targets will be highly rated. A duster at blamore will downgrade ctp's other oil prospects. Although be careful with this last statement, because there can be good news and info from a dry hole.

He regards csg as pointless. He said there are heaps of good proven coal reserves in Australia. To drill all the holes required and set up the infrastructure so far from anywhere is not feasible atm. He said that csg is not cheap, as many holes need to be drilled. A $1b value is pointless if it costs near to that to get it out and transport it. He said his mates suggest the same.

This is kind of a surprise to me. I had always seen ctp as a great company with so many juicy targets and so much upside. After Blamore the company is going to spend money on two csg wells, which will cost more money & dbz will be funding it and dumping shares on the market again. I wonder how much damage will be done for the helium target is drilled.

BUT Blamore has many good targets to go and has great potential. Any finds & the ctp PEL's are worth heaps. Still an elephant of upside.

Best wishes.

ps. Santos man was of no use regarding blamore structure info.