CTP company development / capital management, page-66

Morgans have valued CTP on its existing 2P reserves at 21c ; they are clear future company value increase is principally related to Dukas prospect.
Geographic isolation, distances, pipeline build costs, gas transportation costs, upgrading of APA pipeline north of Alice costs, increased transportation costs justified by APA because of new build at current costs, installation of new expensive essential treatment plant at Dukas,...etc., all involve significant new costs, negotiations, and time to complete. CTP has many smaller interests to deal with ( outlined in my earlier posts ) and priorities and disposals have to be decided and acted on. Five Gas import terminal proposals ( with substantial reputable backers ) are being actively advanced and will be very significant competition. Galilee Energy is advancing its project quickly and may send low production cost / low transport cost gas to Mount Isa ( which Morgans says has many customers ready for gas from CTP ). In the brief time CTP has before competition is fully functioning and captures the market CTP has $ 25 million to spend each year until tax losses are used. All of the spending will go on tenement management, executive salaries, and Head Office growth. There will be nothing left for shareholder dividends ever. Nothing about CTP is clear or transparent. It is complex, chaotic, and has self-interested shareholder hostile administration. Dukas has to be very very very big to give CTP a future. If Dukas is a duster CTP will disappear in the dustbin of history. In the meantime no-one is going to pay 21c a share to take over CTP.