Why would this move the SP, we already knew these two wells were about to be drilled?
News that's already factored in doesn't move a share price. We might get some movement if they announced a farm in partner for Jacko Bore or progress on the helium plant at Mereenie. Unfortunately CTP have been exceptionally poor at delivering positive results from left field, of the sort that really send the SP flying.
I wouldn't even really expect these wells to move the SP much if they're successful. They're low risk, the market is probably assigning them a 90% COS. So if they announce impressive flow rates we might see a small bump on sentiment or from overly naive day traders but I wouldn't expect to see 8c or anything.
The only real risk for these wells is if they haven't mapped the structure correctly (which can happen with seismic due to the need to make assumptions around time-depth conversions) and they haven't actually drilled an untapped attic at all. That's low risk, but if it does happen it would be pretty catastrophic for the SP.
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