ctp board bumped off in april? - great plan-!, page-45

Yes PSI81, excellent pick up!

All anyone has to do to get a better handle on this is called our management (if they will talk to you) and ask them point blank, has Santos offered us a deal recently in terms of a convertible note? Because the answer was YES THEY DID but our management turned it down!

Now Santos are very very unhappy!

It is more than just MT Kitty that they want. If that well comes in then the Heavitree Quartzite (which is the reservoir Santos are chasing here, is prospective for gas including helium/condensate and a potential oil leg) thickens to the west of Magee and has the blanket salt which is the best seal you can hope for and a decent source rock. All that ground is similar to other older overseas Proterozoic Basins (in Russia and China)that have found billions of barrels of oil and many TCF of gas. The Amadeus was once part of that same Basin before the continents broke up. It appears that Santos have realised its potential and want in.

You can note that Santos have only farmed into granted EP's in the Amadeus. I would bet they want to be in the lot including the EP Application areas in this Basin which are quite large and all prospective for the Mt Kitty type play.

IMO, if CTP don't give them what they want, then Santos will come and get it when they want too!