sack the board part 2, page-7

I don't think they would go for a non-operating stake. A major would want operatorship, and they certainly wouldn't want to let CTP anywhere near their drilling program given recent history.

And they'd go for the permit because they don't want to fiddle around targeting 3MMbbl conventional oil in the Amadeus, and they definitely don't want to bother with stranded coal deposits.

I think what we will see (eventually) is an O&G major farming in to a 75%-ish interest in one or more of CTP's shale tenements for a small cash payment and a funding commitment to drill X number of wells so that CTP is free carried up to a point.