Could This Be About Mt Kitty?

Please take a look at the snippet of information below from the CTP 2016 annual report.

I believe, and this is just a theory, nothing else, and am happy to be corrected if I’m wrong, that the recent acquisition of the 2d seismic received from Santos has created a sequence of events.

Let’s face it, there must have been something there if Santos decided to take up the second stage and further seismic.

Since the seismic has come back and been analysed late last year, Santos have sold half their Mereenie field to Macquarie, and informed RC that they believe that there is a several trillion cubic feet play there, potentially worth allot of money. RC even admitted that to me himself.

I believe, MB have got wind of these results somehow, and placed a sense of urgency on buying CTP out by the end of the year, to ensure it coincides with Santos drilling.

RC said in his Skype presentation on Tuesday night that Santos had decided to get rid of any small plays and now are only concentrating on the big fish. This is a big fish, and MB know it, hence the reason we are getting pushed out for nickels on the dollar.

RC even stated last week in the AFR that:

Cottee is classic petroleum industry maverick. And Macquarie is, well, Macquarie. So the potential of cultural difference lies very real. But Cottee appears as driven to stay should Macquarie secure the business.
"I have a missionary zeal about this one," he told me on Friday. "I am keen to bring this gas to market, I am keen to see a solution to the problem [the supply crisis] and I am arrogant enough to think I could be relevant to the solution."

He is obviously not only referring to Mereenie, Dingo and PV gas here; he is talking about the JV with Santos and the large quantities of gas that lie in Mt Kitty if you ask me.

If Santos drill this and find a shit load of gas, that 30% ownership goes to MB, not the CTP shareholders, and I know for a fact this Mt Kitty play is a big reason why many of the longer term share holders of this company originally decided to buy into CTP.

Happy to encourage opinions and peoples thoughts.

Gibbo

Taken from CTP 2016 Annual report (Page 14)
http://centralpetroleum.com.au/wp-content/uploads/2015/09/CTP-2016-Annual-Report_FINAL.pdf

Southern Amadeus Basin - Northern Territory
Santos Farmout

Under a three stage farmout agreement, Santos funded exploration in Stage 1 by investing an initial $30 million, with options to invest further in Stage 2 and Stage 3. In return, Santos would earn rights to up to 70% of the area totalling nearly 80,000 square kilometres. Santos assumed operatorship during exploration and, in the
event that they are developed, Central will benefit from a free carry during the farmout period. Central and Santos concurred that the prospectively of the Southern Amadeus was confirmed by the results of Mt Kitty and the 1,587 km of 2D seismic acquired during Stage 1 of the farmout. As a result, Santos elected in July 2014 to proceed to Stage 2 of an amended Southern Amadeus Joint Venture with Central, where 1,300 km 2D seismic will be acquired across areas of highest prospectivity, earning Santos a 40% participating interest in permits listed in the table below (the
“Southern Amadeus Joint Venture”).

Stage 2
The Operator (Santos) has completed an integrated analysis of seismic, potential field (gravity and magnetics) and historic well data. This work was reviewed by Central and recommendations regarding seismic line layout and acquisition parameters were put forward to Santos.
Santos has now completed the design of the Stage 2 seismic program with a line layout that targets identified leads, and with optimised recording and processing parameters that are aimed at improving imaging of the sub-salt. The joint venture’s exploration endeavours in this and surrounding permits will focus on maturing large sub-salt leads to a drillable status through the acquisition of the Stage 2 seismic.

The primary reservoir objective is the Heavitree Quartzite. Secondary reservoir objectives, also within the Neoproterozoic succession, include fractured basement, the Areyonga Formation, and the Pioneer Sandstone, which is gas productive in the currently sub-commercial Ooraminna field.