i'm always on the lookout for small cap energy plays.
After having a good run in MAD, EKA and NSE, i stumbled onto CTP.
The main trigger point for me was the preso which pointed me to the large p50 prospect for conventional and unconvential liquids (where i prefer to be).
I liked the NSE storey and these guys are at an even earlier stage than them.
on a ev/acrege basis its compellingly cheap. the dicount to its peers is, i think, is due the the board room issues and the ability of old management (i don't wish to start a debate on this by the way).
NSE is trade ~$40 ev /acre ...CTP's good asset eqaute to ~$2.50 ev /acre. NSE has not even drilled a hole yet and its on ~$180m mkt cap, but 5% of the prospective acrege. The only difference betweent the 2 is a farm in deal. This what CTP needs, and given the majors around CTP...i think this should be quiet achievable.
In my view, this stock is not a 2 bagger...its much more.
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Last
5.2¢ |
Change
-0.002(3.70%) |
Mkt cap ! $39.22M |
Open | High | Low | Value | Volume |
5.4¢ | 5.4¢ | 5.2¢ | $11.46K | 219.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 541284 | 5.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.4¢ | 779999 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 541284 | 0.052 |
3 | 1553712 | 0.051 |
2 | 3001200 | 0.050 |
2 | 400000 | 0.049 |
3 | 50520 | 0.048 |
Price($) | Vol. | No. |
---|---|---|
0.054 | 779999 | 2 |
0.055 | 150000 | 1 |
0.056 | 19995 | 1 |
0.057 | 132936 | 1 |
0.058 | 172431 | 1 |
Last trade - 11.48am 30/08/2024 (20 minute delay) ? |
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CTP (ASX) Chart |
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Mark Waller, MD
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