The share price is most likely being pushed down by the share conversion sell off, but then on a positive note, we have either existing share holders or new shareholders soaking them in the market are reasonable price without killing its price.
The share price is where it is due to the current holders doing their research and sizing this specy up as something that could go ballistic. The BG wrangle has cheated CTP announcing a full drilling schedule and getting some price lift from that. The fact that we are only drilling for CSG holes is probably seen as a 'so who isn't drilling for CSG' type event that has been so long in coming that most people who wanted to take a stake do so long ago.
On the positive side the CTP story is getting more notice but a lot of punters hearing about it would be saying if its has so much potential then why is it only 16c. Good drilling results will encourage additional punters to reevaluate the risk and some will take a punt. Positive results in oil and helium should really lift the price as again down side risk diminishes and speculation on its full potential gathers a little momentum.
News on drilling, ROG into the JV and next phase drilling schedules for helium and oil, and possibly some more CSG with or without BG will continue to shine the spot light on CTP.
CTP Price at posting:
14.7¢ Sentiment: ST Buy Disclosure: Held
