The woolies carpark was trying to throw about of humour out in the current market.
It is parked in Kulgera (which was announced), due to coming rainy season. I would have thought that was a smart thing to do. The company is not paying for it. It could be sent back to where it is based, but if they go ahead and use it again then it is cheaper for CTP to get to the next well from where it is.
The line about the cheap drunks comes from what? Someone posted long ago about a friend who just happened to have mates in a pub near by (true or not true?). Where has the poster gone? Off to post stirrings on another thread?
As for the rig, it was what was available at the time. Is it the best rig - probably not. But a rig to drill is better than none.
Nobody likes the share price,(notice it is up as I type). But show me a company that has been given $600,000 to negotiate without knowing all the results?
As for the management, they have a lot of experience. Check out the website for their qualifications. They are also happy to talk to any share holder.Maybe it feels like JH is hiding out because we are used to lots of announcements, but he has only put out one recently. He did tell us that he would update us mid November.
I also think it was good for JH to present at the GTL conference in London. Where better place to network?
You are entitled to be upset about the share price. But how many companies have a price you are really happy with. They not heavily in debt like some other companies. They have about $15milion in the bank. We may find some of the farm in agreements change to accommodate a larger partner. We know there are other parties interested. I would be happy if they came back next year and drilled multiple CSM wells with a large partner. We shall all find out soon enough. The company has kept us informed.
CSM is definitely the hot commodity for the future. Plenty of articles have been posted here (google and you will find plenty of info). CTP has no influence over the current financial situation, so they can't be blamed for that. I think they have weathered the storm pretty well.
Good luck.
CTP Price at posting:
9.0¢ Sentiment: None Disclosure: Held
