Long term holders with elephant memories will recall I used to hold CTP. I continue to take an interest.
A Moomba to Alice pipe is contingent on Dukas being the gusher the failed hole suggests it may be. The pipe promoters would be nuts to lift a finger until the proof of that is in.
Meanwhile, CTP current production is NOT filling NGP. Jemena stands ready and willing to add compression at any time should CTP lift output.
Mereenie Stairway, Palm Valley Deep, Orange 3 and Dingo Deep are all highly attractive brownfield opportunities. There is no evidence LD & team have sensible interest in the proposed sell down of producing assets. CTP may need a capital raise to fund drilling itself as it has promised away most cashflow to debt reduction.
Tough times, despite ready customers and glittering prospects.
Ash
CTP Price at posting:
9.4¢ Sentiment: None Disclosure: Not Held
