a fateful day

I have been upcountry for a couple of days and have not had sufficient internet speed to be able to watch a U-tube so had not seen the Surprise Oil movie until today. I have been able to keep up with the debate (nonsense) on HC though.

Having followed the debate on the movie I was taken by surprise at how open and honest the film clip was. The film was made in real time as it happened. Which suggest that management were fairly sure that Surprise would flow oil, since the JH and the chairman were both on site and in the film at the time of the flow testing.

For the downrampers and those who are just doing a bit of hand ringing stressing and all those "no shares held" crew that so love to malign CTP good luck to you. The rest of us can rejoice in the first major oil flow in the NT for 50 years and the LIKELY high possibility of this film recording an historic occassion of the beginning of a new oil province of which CTP holds 100% of major parts of.

If the Amadeus becomes a centre piece of the new oil province then CTP will be both the centre and a major part of it.

Tommorrow we should hear how the fund raising went, I expect it will be over subscribed, as most people understand that an oil discovery with a flow of 400 BOD is a rare and special thing. Something that has great potential to lead to bigger and more profitable things.

Not many people have read my "a bit if history" (except for fat fingers it would have been "a bit of history") which I found the research into writing it very rewarding. As I looked through a lot of announcements of 2010 and relived a lot of highs and lows that went with the active drilling program of that year. I will re post it tonight so more people can look at it.

What is underground in the Amadeus and other basins of Central Australia cannot be known yet. CTP has finally had some modest success which will mean that they should have the means to continue their investigations of the geology and the exploration of these basins.

The single most important event has probably been the introduction of new technology aka horizontal drilling that has fnlally made oil production possible, and hopefully the resulting cash flow.

2011 no new wells were drilled, new decisions were made upon the knowledge and experiences that CTP had garnered from past years, the only drilling event was the re-entery of Surprise and the horizontal drill. The rest they say is history.

Saltbus