Karll, first and foremost thanks for your valued impute to persons with the underwritten questions posted over the past week or so I am sure many own appreciated for your guidance.
Next month (may 1st) CTPs large gas prospect Ooraminna-2 (O2) which has flow gas prior, should raise the CTP profile and should bring the SP back into a reasonable trading range. It must also be recognised that at the time of flowing gas of O2, it was considered too expensive to extract and produce due to a lack of infrastructure, this has now changed. This well was drilled way back in 1963 by Exoil, the gas flowed most certainly are considered to be company making prospect.
Back in the early 60s and especially being located in the middle of the Aussie desert, gas was considered to be an inconvenience find (initially looking for oil) and was never was never tested properly by Exoil. As a low risk prospect, O2 may host up to 2 Trillion Cubic Feet of Gas (TCFG) at high estimate of Undiscovered Gas Initially In Place (UGIIP). In short, this prospect is enough to bring CTP into the category of being classified as being a junior producer.
With O2 being a low risk spud, we should also be crowing about the Johnstone prospects, where a large oil structure exists the Amadeus Basin and 500 million barrels of oil lie waiting for CTP to find and extract. Lets not forget that CTP have always stated that their primary route to monetisation is black oil.
If the above two prospects does not make the mouth water, helium prices approaching $145 USD/1,000 scfg in the USA and the reasonable prospects of finding helium in the Southern part of the Magee basin provides another form of monetisation, how many others companies in Australia can boast such valuable prospects.
Patersons are no armatures and have certainly done their home work and research on CTP prospects and surrounding tenements hence, fully support CTP in their quest for monetization, yes some near billion dollars worth of shares are on the market, but CTP are proceeding with business as usual and this shall provide some exciting times ahead.
I took up my rights, averaged down and happy to of had the opportunity. lets soldier on JH and bring CTP into the leagues of being classified as being a junior.
CTP Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
