CTP 0.00% 5.3¢ central petroleum limited

below min conversion price, page-13

  1. 609 Posts.
    ST - a few are probably mixed on current selection. I entirely back the idea of moving on for numerous reasons however was noting the costs associated with coming back to blamore again (hence why I said 'to some degree' its a silly move).

    IMO Blamore has been a success in terms of understanding the stratigraphy and the systems in the area, especially given its a wildcat well in a very challenging and neglected area. I think in the meantime if the company is trying to find the oil bearing sands, undertaking some 3d seismic over Blamore would be a very appropriate option. It may cost a reasonable amount but risk is further mitigated by a reasonable percentage. JH has been eyeing off Blamore and Avalon for years now and there's oil there - its just a matter of locating it - ie, it could be located in a shoestring sand etc.

    Blamore aside, central have options and alot of them hence moving on and not wasting anymore time is something they have the freedom to do. Basically the can get on with the job.

    It will be interesting to see how the market reacts to the CBM drilling.

    Rob - thanks for refreshing my memory in regards to the emails for GSG. Hope you're keeping well on the east.


 
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