Amazing that we have more money than we started the quarter at (excluding the take or pay), after covering $2.5m in loan P&I payments and our production and overhead costs. It’s a brave new world for CTP!
Not forecast to spend much of our $25m exploration budget this quarter, only an additional $3m above last quarter so guess just the Mereenie stairway (one or both??).
According to Ensign’s website the agreed Rig 932 ( http://rigfinder.ensignenergy.com/rigfinder/rig_details.jsp?id=80013 ) is currently on the east side of South Australia, near the 3-way border intersection point of SA/NSW/Qld, so the mobilization from there shouldn’t be that bad (assuming weather holds up). That assumes the location on the site (-28.9903 140.1639) is up to date of course.
Other than that a lot of copy/paste from last quarters report, with a few minor corrections/updates. Assume we will give the ok for Santos to extend our their Stage timings for Southern Amadeus.
Top 20 shareholders have dropped 10m in the month, with the big sellers being Macquarie (now at #4 after selling another 5m) and Jetosea (now at #18 after selling 2.4m). Appears Jetosea are making there way to the door since coming in via the Rights Issue with 10.4m and have been selling since (now at 4.4m).
CTP Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
