seismic, page-47

Before we all get carried away here, can I inject some reality into this debate?

A. There are NO cash flow problems. CTP does NOT have any cash flow issues. At this point in time, we have ~$20 Million IN THE BANK.

B. We have anticipated cash OUTFLOWS over the next year in the form of:

1. Operating Expenses
2. Cost of 3D and 2D seismic
3. Litigation (this is a tough one ... the previous litigation was in CTP's favour ... with costs ... could go either way)
4. A further well at Surprise ?

C. We have anticipated cash INFLOWS over the next year in the form of:

1. Sale of ETP oil (assume 6 months ETP; then production ... ~$12M (after expenses?)
2. Proceeds from any JV or farm-in ($$$ many) ... and I say this without hesitation cos if we don't get a DECENT farm-in or JV in the next 12 months, we can all go home!