CTP central petroleum limited
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We are only a few weeks away from knowing whether the drill is...

  1. myHC101
    477 Posts.
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    11/05/22
    11:17
    Post #: 61337296
    We are only a few weeks away from knowing whether the drill is successful, so I suspect CTP will absorb the costs.
    According to the Qtrly their exploration/dev expense was $1.5M noting that the other stakeholders are carrying CTP up to a $40m spend. They have a debt facility on hand as well.
    A $3m cost overrun doesn't seem that much in the scheme of things.
    I agree with @psi81 that "discovering" PV3 half way through the drill is odd. Maybe they see more potential than originally expected because of the drill.
    GLTAH
    CTP Price at posting: 11.0¢ Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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