I think the coal is a logical first target and JH says in the article that they have enough money to drill the first 4-5 cbm wells. In fact the $31m is enough for all their proposed drilling, but would leave them short of funds for additional seismic work.
Personally I'd be fine with that, but I'm sure the market reaction to BG walking would be negative. Obviously it would be good to see BG involved, however they've never said they would be and purely from my point of view, BG wasn't a factor in purchasing shares. CTP can drill for and find resources without BG, as most companies that strike oil gas or coal have done.
If the ucg potential gets proved without a JV, shareholders will be very pleased that they don't have to share.
CTP Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
