Yeah, so Mac has no incentive to drill before the CVNs expire. They will just schedule all their drilling for 5 years from now. It's business stupidity to do something in 4 years with a $90M penalty when you could do it in 5 years for nothing.
Unfortunately with the amount of debt CTP has, Mac has us by the short and curlies. They know we can't fund the development.
CTP Price at posting:
20.0¢ Sentiment: None Disclosure: Held
