Ann: FY2021 Annual Results and Business Update Presentation, page-6

I did say in a post a few weeks back that their previous Range FID timeline was unrealistic and 2025 was more likely to actually sell first gas. I'm actually worried CTP is now agreeing with my timeline as this means it will likely take even longer! CTP seem to be a bit out of their depth here technically and this new plan of drilling 2km away isn't going to help dewater the pilot. On the plus side it's great to see Arrow planning to drill right up the permit boundary by 2026. Selling out to Arrow looks to be a real possibility, and it would be a bolt on for them. The domestic market requirement would remain but Arrow could just process through their network for cheaper than CTP building standalone facilities.

It probably is time to break out the helium again. CTP has been lacking a "story" for a while now, beyond simply selling down their existing reserves at a modest profit. In the current ESG climate helium can be argued to be a future-focused commodity which might attract some interest.