Interesting development with Falcon Australia seeking to raise 270 million US dollars on a 270 million share float.
They seek to follow-up old seismic data and some pre-drilled gas shows.
Beetaloo basin is 28,000 km2 and is believed to hold Potential 50 TCF Recoverable Shale Gas and Poential 20 billion bbls Recoverable Shale Oil.
I am not sure of comparisons to CTP's similar acreage ..these guys have plenty of data already compiled and no Helium.
Martin Place Securities is doing the raising.
It goes to show there is plenty of activity in the inland basins and lots of confidence about the hydorcarbon yields therein.
270 million US dollars capitalization for this basin means what ? for CTP's holdings. Honestly I don't know. But I see this parallel venture as positive for CTP holders even if the actual geology of the basins differ a bit.
My expertise doesn't extend to an opinion about this. DYOR
Just thought the information offered some positive points in Comparison to CTP's current capitalisation (about 70 million Aus.?) Remeber they have some existing drilling and gas shows to take to market.
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