central petroleum business plan, page-16

Haha Haasko mate... your comments are always helpful. Please don't mistake what I said as a warcry for an EGM right now. My words are intended as a statement of frustration at CTP's current strategy. Especially when RC explicitly equates money in bank with Surprise East and West development costs. You simply shouldn't say that unless you are committed 100%. I bet he regrets it now.

I'm just thinking that if NW Mereenie and Mt Kitty have problems this year (god forbid), then how much longer could RC stall further development at Surprise before major shareholders demand action? When the market saw oil flow at Surprise the shareprice did something unusual. It went up. So while it is good to have JV partners actively exploring, it's still no reason for CTP to avoid aggressively developing surprise in the meantime to help get the share price back up and cash in the bank. Put that high-salary CTP management team to good use instead of relying entirely on STO's talent. Drill baby drill!

paulharris post seems reasonable. I still think a rig that costs $13 million to drill must have gold-plated hand rails. But honestly I'd be happy for CTP to pay that if it didn't fall over or otherwise fail to meet its drilling objectives. IMO better if they JV PL6, with a requirement to not only drill several wells in the permit, but to put a refinery in alice which CTP can exercise 100% ownership in the future. Get their commercial guys to crunch some numbers. Even the gold plated hand rail rig only costs central 6.5 million if they pay for 50% of it.