Very nice reminder and post saltbus
There is another big reminder again today from Venezuala S America.
This country's oil exports are dropping to US especially and its rate of production is falling.
Another comment from this site
Quiros(an energy consultant in venezuela) said the recent announcement that the huge Hovensa refinery in the U.S. Virgin Islands will close this month seems linked to a lack of crude shipments from Venezuela.
More in this article
http://finance.yahoo.com/news/venezuelas-oil-exports-us-decline-150038661.html
But the reason for posting is to remind us that YES, peak OIL is here now.
Last year Sheel and Total has definitively said they are desperate for now OIL fields that are producing (amongst OTHER MULTINATIONAL oil companies).
Anyways back to CTP, and although we are consistently being bombarded by the usual repetitive garabage that nothing but dilution is happening, its more important to remember that perhaps this discovery is perhaps the most significant for Australia.
Even though its NOT YET EVIDENT but this region of 5 or so Ancient Basins ALL appear to have OIL and BIG gas fields.
And REMINDER - they are equivalent to less than 1 % explored and yet they have GREAT OIL and Gas shows.
THE "NEW TECHNOLOGIES" will allow now most discoveries to be bigger and more significant also.
Betcha there are a few BIG companies really watching CTP simply because of their enviable find but also 100% ownership.
Betcha 2012 will be the year when we see a few big OIL companies moves into Australia by BIG OIL companies.
As for a sell off Monday, yes certainly may be BUT at 5.5 cents why bother to follow the seller stackers.
Some would love to buy back at 5.5 quickly.
BEWARE if you are following our resident downrampers views.
Ask yourselves
1 What is their AIM?
2 Where will CTP be within a month?
Certainly letting the drill rig go could mean a disaster but starting a second well in the vicinity is opening the door to 1000 barrels of production in 3-6 months. 3D information will be beneficial and will come later.
For now we know the oil field perhaps occupies 20 sq km minimum so even now its all looking nice even without the 3D.
Hay - bring on Surprise2 and watch the price RISE with each report of HORIZONTAL action and OIL flows.
And remember - CTP have a few mores ACES up their sleeve soon,hopefully.
Now where are those QLD and NT permits?
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