SnowKat,You said: "... they have enough left to cover "Admin" to...

SnowKat,

You said: "... they have enough left to cover "Admin" to about 28 Feb with $0 expenditure on exploration or development...one would hope there is a big announcement coming over coming 2 months or so or looks like we will have to open our wallets again before too long."

===> that is incorrect. Below is my previous response to a similar assertion (by Stockrocker) in relation to CTP operating cashflows over the next year and a bit. Happy to be proved wrong, but my analysis still indicates that CTP appears to be adequately funded well into 2014 (i.e. 15+ months away)

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Post # 8853531 04/12/2012

Stockrocker, you said: "We should hit $0.00 or close to it by quarter end. More money needs to come from somewhere."

==> That is incorrect. Please DYOR and review the last financial statements.

At 30 Sept 2012 CTP had $5M cash on hand; expected cash outflows are $3.4M in 4Q2012 ($1m exploration - I assume ongoing Surprise EPT costs and $2.4M admin); expected cash inflow in Jan 2013 of approx $1.5M (Century payments as ordered by the court - by 7th Jan as I recall) .... those are the 'known' numbers - and on that basis there is no immediate cash raising required.

Then, if you looked at the Total JV, CTP maintains operatorship of the JV for the first few years - that means CTP personnel working on Total JV stuff are paid by the JV (which in this case is from the first $38M which Total put up - so I expect the admin cost to decrease (or be offset) significantly by the Total JV funding.

And finally, once a production licence is granted by the NT Govt for Surprise, CTP should have a revenue stream from Surprise ... (assumed at 300 barrels per day and a $100 per barrel sale price) ... which will amount to additional gross income of approx $1M per month. ($12M p.a)

And with 2013 shaping up to being the biggest year in the history of the company (Surprise initial production; Santos drilling Mt Kitty; Total JV activity etc), there is not a lot to be concerned about right now - except maybe the derampers who don't seem to have a clue and make up financial 'facts' on the spot!.

You guys really have to listen to the company (Cottee) when he says that we will not need cash before 2Q2014 ... that is about a year and 4 months away!!

(no financial advice given or intended - DYOR)