capital raising likely

Oh well,

Here it comes.

The next capital raising.

Don't get so excited folks, oil is not spraying into the sky.

Another JV yeehah. More funds needed for misguided spending of non- economical reserves of oil and gas.

I wish well for the blind and faithful, however let me point out a warning.

To road and rail freight the oil to Darwin will negate the worth of the commodity.

To road freight any oil (after bringing in in drilling and fracking crews) out of Southern Northern Territory. Plus Rail freight etc, will cost dollars per litre.

For CTP to be profitable oil would have to be worth around $280/bbl by my reckoning.

JH told me personally that a pipeline would cost billions.

Maybe in a few hundred years this resource will be viable.

Until then this is a highly risky way to play tight oil.

One might remember the drilling difficulties associated with poor weather/floods etc.

Think about getting rigs/crews/fracking teams/road tankers etc in and out.

More investors money to be wasted on tight oil IMO.

Management has already proved itself repeatedly IMO.

Serial overpaid capital raisers IMO.

Careful chaps IMO.

Best wishes,

M61