CTP 7.69% 4.8¢ central petroleum limited

pre-open, page-38

  1. 609 Posts.
    Ya i'm always open to any appropriate discussion.

    Realistically, we will not know the reason behind it until its released and that being said I do not see such an issue with it either way it goes.

    The maynard report would be classified "price sensitive" (at the discretion of the ASX) hence CTP may have requested the trading halt for this reason until it is released.

    On the contrary, there may have been quite a few issues in terms of the wording of the summary sheet which the ASX may have concerns or the previously announced AJM presentation. In regards to the former, IMHO JH has his bases covered by clearly stating it is non JORC compliant and preliminary tonnage assessment - he hasn't done a CDU on everyone.

    The questions you pose;

    1) Stated as non JORC compliant, notes that new seismic has been assessed and that this is a tonnage estimate only with no comments in regards to actual gas saturation levels - only a comparison to industry standards.

    2) I'd assume that the other consultant did use the older data from the previous 14 wells drilled in the area to assess the package - its only prudent. The announcement states the maynard report will contain the full text. The ASX should have no reason to pull people up on that given they know its coming.

    3) Please refer announcement on 27/11/08 which is exactly the same and has the same comments regarding "programme suspended". That's not new news at all.


 
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