talks between ctp and bg delayed, page-37

Interesting possible drilling delays are now being suggested by some.
The field season in the Center is usually from about May until November.
Field workers, contractors and drillers like to have a break over Christmas.
Office based people seem to be involved with the Melbourne Cup, Chrismas Parties and have their annual leave in Jan and Feb. Meanwhile they are "Interpreting Seismic".

JH has had a long history of not meeting commitments and timelines in the past.
Many may remember the BS about 10 holes to be drilled by Y/E 2008. In fact there were none!
You need to be very careful with interpreting his statements.
For example when he says it will be cheaper to book a rig for Johnson it implies that one has not yet been booked.
Are the access roads completed? Are the sumps dug? Have the the drill pad and lay down area been completed?
Is the steel on the way?
What happened to the second meeting at the end of May for the oil holes?
Remember that one? Or has everyone already forgotten.
It has not been mentioned since then.
Not one single word. Perhaps there was no meeting after all.

All this preparation will need to be completed, and I wouldn't mind betting it hasn't even started.
It will be a nice surprise if it is underway - but don't hold your breath.
The field season is half over and it is easy for JH to say that it is better to hit the ground running next season in May.

You need to PLAN for a drilling program and unfortunately CTP have a very POOR record when it comes to planning.
So like I say, don't hold your breath waiting!

The only way out of this is to pull the finger out and drill 2 or 3 holes before Christmas into possible oil.
Any more dilution and CTP will end up becoming a standing joke like Empire and others.