Mamlambo is near Surprise and has large areal size. Driiling...

Mamlambo is near Surprise and has large areal size. Driiling success at Mamlambo makes parallel re-devoplment of Surprise logical. Combined production from these 2 areas makes project more attractive. Distance from markets, transport cost etc., become much more manageable. Current analysts / Woodside CEO predictions of continuing volatile oil markets gives further confidence in Mamlambo / Surprise appraisal / development work. CTP has cash on hand to fund activity and Farm-Out Mamlambo will confirm resource size and drive field development. It adds more regular income and adds to dividend capacity. Mamlambo farm-out could introduce new partner or extend HZN involvement. HZN are knowledgeable and experienced in oil matters in N.Z. and CHina.