The CSG sector is certainly hot, try telling any PES shareholder in Nov that it was a $8 stock & they'd tell u u'd b dreaming. Fast fwd to Feb 2009, its traded at $8.56 & has an offer of $8/share, from BG.
Once the big players are sorted out, then its the mid-low tier & then the ones with acreage.
For the time being, all CTP have is 28442 sqkm of acreage with 32m thick coal and that's enough for anyone eyeing a small time explorer.
If QGC could pay Roma Petroleum $47.7m for their paltry acreage in QLD, am sure in time CTP will appear rosy & that seems 2b the intent behind acquiring PXA for $18m, i.e. have access to the data-rooms at all times lest y'r rivals rock up to spoil the party.
With a $31m mkt cap + $6m cash & an EV of $25m, the SP doesn't reflect the true value for CTP. IMO, they will have their date with destiny in time, small steps first.
-----------------------------------------------------------
P.S: Oscars are on tonite in LA, will b interesting 2C the nominations for best drama/research/screenplay :) (not me nope!!) so please, people DYOR & Sums.
Add to My Watchlist
What is My Watchlist?
