announcement out, page-25

Unambiguous and total embarrassment.

Even if the there was even the remotest possibility of 3 mopd, a cursory look to see that a 60,000 bopd plant costs multi billions, say about 3, means the GDP of a major nation is required investment to get to 3 m bopd.

Credibility of management is shot to hell. Delusional is a better word.

Somebody is blowing smoke and somebody is buying it. For example, the brown coal in Victoria is an altogether better deal. There is a workforce of sorts, water and el cheapo coal. Madison Energy had a plan for this and were sequestering the CO2 in depleted Bass Strait gas fields. When the penny drops over how much CO2 3m bopd produces, the protests against CSG will look amateurish in comparison to CTP oil project...destroying the Artesian, carbon pollution, all for oil exports to third parties. The optics on this stink.

Out of touch, out of money and out of time.

My post last Friday said this was elephant droppings. I was right.

Worse, there is no money in the door and more spending. Totally out of control and no real options.

I would love to be wrong, but this is a Circus Top Parade! An elephant and full of clowns. Time to get real but it seems all the Mr $8 ramping and hints of JV and mate to mate phone calls are just chook feed.

No graduation ceremony for undergraduate CEO yet. Grade - FAIL. Needs to do better next time.

For all the great work in getting acreage, the follow-up is dismal. I seriously hope that there is something better than this in the works, but my gut, and yours, should be getting that hollow feeling.