Totally agree, psi, and it's good to see the BOD in the post-SOA...

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27/07/17

12:56

Post #: 26114304
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Originally posted by psi81 ↑

Wow. It's amazing what a difference in attitude a failed SOA makes. It was all doom and gloom until the vote, but now everything's coming up Milhouse for Central.

Midpoint net to CTP 2P targets of 74 PJ in the Mereenie Stairway and 124 PJ in Palm Valley. That's 200 PJ right there that Mac was getting for free if the takeover was successful, and not properly accounted for in the IER. In particular the Mereenie Stairway test looks very good and ripe for horizontal drilling, which IMO will be a game changer at Mereenie (and probably won't even need fraccing IMO). Plus more at Ooraminna, though that's a bit riskier with more dubious economics.

And the dire cashflow situation has magically resolved itself too with the company "unambiguously cashflow positive."

And the tricky situation with the requirement for Mac to agree to any future GSAs is looking sunny too, as those nice chaps at Macquarie were actually nice chaps all along and not the Machiavellian bastards who were going to hamstring CTP by withholding all permission, to force CTP into liquidation to pick it up for their Evil Empire.

Things actually look pretty good now. There are still issues around the capital required to supply gas to the NGP, and the amount of benefit from the pipeline reforms to CTP is still uncertain. But I reckon that if this quarterly had been presented, with this positive bent, prior to the SOA, the vote wouldn't have been as close as it was.

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Totally agree, psi, and it's good to see the BOD in the post-SOA era at last concentrating on resource/technical issues in the QR. Now is the time for the BOD to recruit a new director who can adequately represent the shareholders' interests at BOD meetings.

CTP Price at posting: 12.3¢ Sentiment: Hold Disclosure: Held
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Totally agree, psi, and it's good to see the BOD in the post-SOA...

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Totally agree, psi, and it's good to see the BOD in the post-SOA...

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