ctp's acreage in the perdika is estimated to have a prospective...

ctp's acreage in the perdika is estimated to have a prospective cbm resource of 35-70 tcfg.

the 160m of coal at blamore 1 has blown this estmate out of the water and we can look forward to a revised "prospective cbm resource" in the near future.

but lets assume we maintain the present estimate.

lower 35 tcfg of cbm resource = 35,000 pj's

upper 70 tcfg of cbm resource = 70,000 pj's

if ctp concentrated on proving up their cbm resource over the next 6-12 months how many pj's could ctp bank as 2p reserves?

add some concrete development plans to the mix and all of a sudden we are in uncharted territory relative to qgc and other cbm middle class riff raff.

queensland gas corporation has 2p reserves of 2415 pj's with a mcap of $3.5 billion or $1.5 million per pj.

SO, if you are thinking of trading in and out of ctp for a quick $ here and there forget it....it may be smarter to hold and forget for 12 months at the very least.

we have the infrastructure in place (alice springs, rail to darwin or adelaide) and we have the resources.

good luck all.

cheers