Badfish,
did merlin fail because they didn't find any oil or for some other reason? i found an old smh article that said that merlin was looking for >100 million barrels of oil (similar to ctp) and was likely to close fully subscribed.
the thing i can't get my head around is that independent experts mulready calculated a best estimate of about 118 million barrels for avalon and blamore, but the company is valued at like 10m. if they did find anywhere near that much recoverable oil ctp would be valued in the billions, am i right? (110 million*70= 7.7 billion).
what's your personal opinion on ctp's future prospects?
cheers
roguetrader
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