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5.2¢ central petroleum limited

Ann: NZO: Palm Valley - 12 Drilling Update, page-8

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TopSahara

8,247 Posts.

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11/10/22

14:19

Post #: 64138763
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Originally posted by numeraire: ↑

Macquarie Bank aren't fools - they bought into the Santos divestment as well, and were trying to take the whole package with their failed takeover for CTP.

Santos also remains a farm-in partner of Dukas, and recommitted to running the exploration activity next year.

Fact is this is a new frontier play, which takes time and plenty of funding to develop. There will always be naysayers, but truth is no-one knows for sure until you put a drill through it.

Fortunately CTP divested some of it's share in the Amadeus at a profit. That was incredibly fortuitous for shareholders, and now allows management to focus on the other prospects in their Texas sized acerage.

GLTAH.

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"""truth is no-one knows for sure until you put a drill through it"""
ALL the good spots have already had a drill through it, the chance of finding any good Gas/Oil on land in Australia is all most Nill.

CTP Price at posting: 8.8¢ Sentiment: Sell Disclosure: Not Held
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