CTP Fracking, page-54

CTP avoidance of unconventional potential across its tenements is progressively isolating it in the industry. MSMN are evaluating EP145 near Mereenie waiting for Dukas 1 geological data to regionally tie it in. Dukas 1 has shale horizons. Palta Energy, in administration, in Beetaloo area analysis indicates its prospects are also unconventional valuable. CTP is waiting for more fracking results from imminent Beetaloo drilling before looking further at its Wiso Basin prospects. Theia Energy are marketing a huge unconventional prospect inland from Broome and south of Derby. Local native people are interested in the gas supply and jobs it will create - they are currently negotiating in the matter. CTP with its expertise in remote pre-drill stranded prospects and native relations has credibility in these situations. CTP avoidance of unconventional value is no longer commercially viable or defensible.