Reasons: PetroFrontier wants to own the whole Georgina Basin and has some drilling due to start as soon as the weather clears up and the ground drys. They have a JV with BKP and have recently taken over another nearby company. We know CTP have absolutely huge amounts of land and are about to release a new Ryder? Report showing how much oil is likely to be found. I am guessing many billion of barrels... With the recent surge of interest in shale oil and many saying central Australia is better than the Bakken in the USA, I would suggest CTP would make an ideal and very cheap takeover target!
;-) DamianWRX
CTP Price at posting:
31.5¢ Sentiment: LT Buy Disclosure: Held
