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10.0% 5.5¢ central petroleum limited

so wheres the drill contract., page-2

  1. Good Oil
    5,933 Posts.
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    26/09/11
    14:40
    Post #: 9010667
    Unable to fund it imo , due to :

    1. Shortfall from SI Placement only raising $5m
    2. SPP funds uncertain and/or not bankable until end Oct

    At circa $15m per well (as per last year) there simply are not the funds to mobilise and sign an AFE.

    An early wet season may provide an 'easy' excuse to delay til next year and inact the 'Drilling Strategy' of 'watching the neighbors' imo.

    DYOR
    CTP Price at posting: 24.0¢ Sentiment: Sell Disclosure: Not Held
    Likes Created with Sketch. 5  Upvote
    lightbulb Created with Sketch.  Great analysis
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