grangeh et al, Central Green/Central Geothermal was announced to...

grangeh et al, Central Green/Central Geothermal was announced to the market quite some time ago. It was great to see some ethical longer term strategies being put in place and I think the term visionary has been evident from the beginning of the story. JH's love of the job is whats made central.

The delays to CBM001 is very unfortunate and frustrating but has been outside the companys control. Extremely dismal performance by the drilling team and IMO they should be sacked, they come across as amateurs and should not be out there where conditions are alot more difficult than that of say the cooper etc. If they manage to stay on, future wells should somehow be arranged as a fixed time contract price with contingency, or they should be held liable for proven incompetence as each day is costing CTP and hence costing shareholders. Near impossible that would ever happen though.

CBM aside, simpson is definitely getting closer - 190mmbls UOIIP target (RAW estimated it at 300mmbls initially). The 190mmbls based on 25% recovery rate, $40bbl, diluted @ 400m, with a 65% interest gives a potential figure of $3.09 underlying value.

Regarding the 600k contributor - Approximately 3 weeks left to reach an agreement with this potential farminee and from analysing the circumstances one could assume if it does progress it will be a cracker. Interesting few weeks ahead...