change in prevailing sentiment, page-4

Posty,

CTP had ~$30M in the bank last Dec.

It costs ~$5M per well.

CTP have done 3, and are doing 2 more as part of phase 1.

CTP have (I believe) 5 wells planned in phase 2.

That's 10 total, for about $50M.

Add the $22M from the cap raising to the $30M we had in the bank, and that's $52M.

Do u really want CTP running on empty without reserves in the bank?

When counting JV a large portion of the cost of the wells was being covered by them. Some of them haven't paid up, now CTP has to pay.

Hopefully they will cough up and we will get to bank the money. Either way CTP needs to move forward.

- Karl