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3.64%

5.3¢ central petroleum limited

Ann: Central signs 5.2 PJ pre-paid gas sale agreement-CTP.AX, page-46

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justinmetals

8,019 Posts.

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27/09/18

08:40

Post #: 35870402
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Originally posted by brucesterfer ↑

Hi Beardy,

Apologies for the accounting related detail. In summary of above:

1. CTP are most likely to make significant payments to MacQ over the next 3 years if MacQ choose to receive the financial settlement rather than physical delivery of gas. We, CTP, borrowed c. $11.3m in mid-2016 and may have to repay at least c$30m over the next 3 years.
2. If MacQ choose the financial settlement, we will also need to find a buyer for the gas. If we don't find a buyer, we will need to fund the cash payments from a smaller gas sales base than has been presented?

My final point re: Richard Cottee. He was very smart in foreseeing the east coast gas crisis and knew there would be significant upward pressure on pricing, yet he signed an agreement which exposed the company to the complete opposite of this (by pre-selling 5.2PJ of gas at $2 GJ with a financial settlement method at crunch time).

This is the way I understand it - would appreciate others thoughts, especially if I've misunderstood.

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After transport it’s more like $7.50 it’s so it’s not really a disaster especially when your scratching your ass and begging for dosh

CTP Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
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Last 5.3¢		Change -0.002(3.64%)		Mkt cap ! $39.49M

Open	High	Low	Value	Volume
5.3¢	5.4¢	5.3¢	$4.685K	88.39K

Buyers (Bids)

No.	Vol.	Price($)
2	80003	5.3¢

Sellers (Offers)

Price($)	Vol.	No.
5.8¢	100000	1

View Market Depth

No.	Vol.	Price($)
2	80003	0.053
4	308254	0.052
3	536685	0.051
6	485000	0.050
1	150000	0.045

Price($)	Vol.	No.
0.058	100000	1
0.060	99559	2
0.062	11500	1
0.069	200000	1
0.070	130000	2

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