We still matbe only have 45% which means we could just be stuck with a marooned asset if Santos decides to just sit on their hands for a protracted period of time. Also we dont have the cash to go it alone on the High pressure reentry so i dont see much happening here for a while. I tend to think the big catalyst will be the new pipeline heading southeast. If that gets the greenlight then i think Santos would see a easy path to market and look at pulling the cork out. Another good thing for Santos is that CTP would then have to chip in 45% of the costs , although CTP could then sell off part of their holding to another partner, this could be juicy if they play it right because there is a high degree of some sort of success. who knows what is down there but what ever it is it is at incredibly high pressure. Sort of like STXs hole that has been stalled awaiting heavier gear. Although with STX it is in known or proven successful field. Anyway not a bad bind to be in, just needs time, wisdom and patience.
CTP Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
