CTP 0.00% 5.3¢ central petroleum limited

"CTP now has financing liabilities with these 2 deals."CTP had...

  1. 162 Posts.
    "CTP now has financing liabilities with these 2 deals."

    CTP had financing liabilities before these deals. Had them for years. Raising cash from small shareholders became a regular feature of the calendar, and with each begging letter the brokers got a nice slice of action too.
    JH had been travelling around the world spruiking the company to anyone who would listen for years. With zero result.
    Well,to be fair there were a couple of JVs set up with other cashless tiddlers which ended in the way you would expect...

    What drilling there was turned (repeatedly) into a complete fiasco.

    I've been a holder for several years,and invested because of the potential. JH & the board were never wrong about that. They just couldn't do anything meaningful with it.

    In the space of '100 days', RC has indeed given away 70% of the acreage if that's the way you want to look at it. He's also got two major players, experienced, and with deep pockets, to throw a bundle of cash at us and drill some holes. This is exactly what was needed, and you can see the response in the share price (& I'm not talking about day to day movements of a cent or two which everyone lately seems to be so wrapped up in at present - forget about it, look at the longer game).

    Worst case, Santos & Total throw in the cash, drill a few holes, find we have nothing and walk away.... then I'll still be much happier than if I'd stumped up for several more CRs and got the same result...

    Best case, sky's the limit, but with the very high likelihood that we get taken over well before we get up to that sky...that's normally the case with small explorers - shouldn't expect anything more.

    I think we are in a very, very, good place right now - well done RC.
 
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