news out, page-14

Must admit that the main reason I didn't expect capital raising is based on last one, I didn't think they'd manage to pull it off even to this extent- and if we go back a few weeks, nor did most of those serial whiners posting today. But CTP really need to be less greedy about trying to hold on to 100% of everything too long and start farming some down even if acreage values are rapidly rising. A mini GFC and they will be in strife if Surprise doesn't come in.

On the positive side they can at least move forward with some drilling, but hard to see three holes fully funded from this, and Ts and Cs of SPP underwriting need to be a little clearer. Nevertheless, a good chance of seeing both positive Surprise and neighbour's Georgina Basin news, and if either of those come in it changes the game completely. Overall, disappointed that they haven't closed deals. There is little doubt about outside interest in these plays, so it can only be greed.

I suspect a temporary dip to 5 to 6 cents is on the cards, but doubt it will be too long as even CTP mgt can't stop PetroFrontier from moving forward! Any sniff of success there will be huge.