just out , page-56

I find that hard to believe or anyone even dreaming CTP can be a good opportunity at the moment have you looked at what they have to offer short term ( 0, zip, nothing ) oh thats not quite right they will have something to offer within the next few months.

1. A Quarterly report that will show failures and waisted cash that will tell you that they learnt so much from and have a better understanding for future drilling.
2. A share purchase plan ( has anyone even looked at doing the math on what that will be this is what was offered before to holders and others )

Central Petroleum Limited (ASX: CTP) is pleased to announce that it has conditionally raised $19.35 million (before costs) with the assistance of Patersons Securities Limited via a Placement and an underwritten Share Purchase Plan (SPP). The over subscribed Placement of 75.0 million ordinary shares to a range of institutions and sophisticated investors at 8.6 cents per share raised $6.45 million and the underwriting of a SPP to the level of the first 150 million shares at the same price to be offered to existing shareholders has conditionally raised a minimum of $12.9 million.
The issue price of 8.6 cents per share represents a 18 percent discount to the Company�s last closing price of 10.5 cents. The issue was heavily oversubscribed and resulted in a scale back of institutional demand.
The funds from the capital raising will be used to accelerate exploration programs at its Johnstone and Surprise project areas in the Western Amadeus region, pay for the costs of the issue and for general working capital purposes. Central intends to rapidly finalise a contract to complete approximately 300km� of 3D seismic over the greater Johnstone and Surprise areas and plan for additional appraisal wells to delineate the potential of the Johnstone and the Surprise areas as it moves to a potential commercialisation.
Under the SPP all eligible shareholders will have the opportunity to subscribe for up to $15,000 worth of fully paid ordinary shares. No brokerage, commission or other transaction costs apply to applicants for the shares issued under the SPP.


Now once you have done the math you will have what you will buy with some conferdance that you are paying the right price for and not wasting more money my guess its around 3c or lower.

Ps when I say conferdance you will need to look at the other risks such as management.


This is not meant as financial advice just plain good sense when buying DYOR this will also show the potential further loss holders can have.