This ann. relates to the calling of drilling contractors for 3-6 conventional wells for Phase 2. We were expecting 3-8 in the Amadeus Basin for Phase 2. This however is indeed exciting, as this could be the big money hit for CTP. Three out of thirty seven is the discovery ratio for the Amadeus !!! I say we drill thirteen to make sure !!! Then the odds will really be with us !! However with the improvements in seismics over the years six should be plenty to get our cashflow started. This ann. shows that Phase 2 is very very close. SP action not too far away IMO!
CTP Price at posting:
9.4¢ Sentiment: LT Buy Disclosure: Held
