Great result with the uplift in spot sales over the last two months.
Average sales price of $8 - $9/GJ is potentially a floor price for CTP going forward. In addition to their spot sales, a third of CTP GSAs are expiring at the end of 2022. That's ~50% of production to be priced at market for 2023, which increases to 65% on a successful tie-in from the PV drilling campaign. At these levels EBITDAX would conservatively be running at $10m per quarter, and potentially much higher if they decide to increases the spot marketing programme.
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