Help. I really cannot understand this 40% jump in the stock price after the announcement. As far as I can tell there was nothing new announced. It has been clear for several years now that there are potentially huge coal resources (and oil too) on CTP's licenses. Also clear that resources are in the middle of nowhere and will take some major capex and creative thinking to develop. So why are they suddenly worth 40% more?
Can't see any reason CTP should be getting attention from CSM/LNG enthusiasts. John Heugh has said repeatedly that it is not economic to transport gas out of the area by pipe. It will take some kind of GTL plant to monetize the gas.
Have not been following CTP (or other Australian stocks) for long. Maybe somebody could put this action in perspective? Last week CTP was selling for $13 million US, now it is selling for $20 million US. I guess both prices are equally arbitrary and ridiculous.
CTP Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Not Held
