CTP

7.69%

4.8¢ central petroleum limited

Apparently the first well in the Southern Georgina Basin is set...

First 64 Last

Share
Profile

Follow
hunchback33

907 Posts.

235

16/07/14

12:24

Post #: 13667129
Share

Originally posted by diggingyourselfintoahole ↑

Spec, I agree there is potential but I have had that 'round the corner' feeling for a long time now, (I thought that 5 years ago and have waxed and waned oh so many times!), sure RC has made some deals that JH probably wouldn't have made and possibly saved the company from cap raisings/financial oblivion, but from a drill-in-ground perspective CTP really hasn't gotten anywhere fast. Yes I believe CTP is undervalued, but until the rocks speak I don't think the market will believe it, obviously the share price tells the story.

I was more making the point that I would not at all be surprised if CTP did not spud anything for another two months, citing unexpected delays, as this has happened over and over and over again. They are meant to be co-ordinating a reasonable-sized drilling campaign in relatively isolated and difficult terrain, which really is going from a standing start to a sprint for a company the size of CTP. I hope the new employees they have hired are up to the task, but until I see some actual spud reports, I have some reservations. There was a rumour once upon a time that they were going to drill Surprise West too...

I doubt Santos will try to take over CTP based on a single well with results of dubious quality, maybe if they drill a few more and get good results, or a re-entry/retest confirms the goods. When that will happen... well it would be nice to know.

Expand

Apparently the first well in the Southern Georgina Basin is set to be spud by the CTP/Total JV in late July as AFR reports. “Speculative Buy” per Hartleys Research with a target price of $0.65.

Total will spend 80 % of the Stage 1, which as you know, has a price tag of $90 million. CTP will have to come up with about $18 million towards the end of that stage, which includes 3 wells.

Read more at:
http://www.copyright link/p/markets/market_wrap/central_petroleum_ctp_eN7zZA5EFcNDNNPqNKO54J

CTP Price at posting: 37.0¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Week 28 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Bitcoin investors need to know the risks

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

ASX hits all time high out the gate on Friday trades following bullish US inflation data

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

There are more pages in this discussion • 32 more messages in this thread...

First 64 Last

Add CTP (ASX) to my watchlist

(20min delay)
Last 4.8¢		Change -0.004(7.69%)		Mkt cap ! $35.52M

Open	High	Low	Value	Volume
5.0¢	5.0¢	4.8¢	$22.36K	454.9K

Buyers (Bids)

No.	Vol.	Price($)
1	104163	4.9¢

Sellers (Offers)

Price($)	Vol.	No.
5.2¢	96150	1

View Market Depth

No.	Vol.	Price($)
1	104163	0.049
3	1201484	0.048
1	100000	0.046
2	280000	0.045
2	28222	0.041

Price($)	Vol.	No.
0.052	96150	1
0.055	11000	1
0.057	45000	1
0.059	25000	1
0.060	210909	3

Last trade - 11.34am 12/07/2024 (20 minute delay)

CTP (ASX) Chart

Apparently the first well in the Southern Georgina Basin is set...

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Week 28 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Bitcoin investors need to know the risks

Immutep reports strong response rate from immunotherapies treating carcinomas

Almonty locks in govt agreement for tungsten oxide plant in South Korea

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

ASX hits all time high out the gate on Friday trades following bullish US inflation data

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Nimy to raise $1.21M to explore 'newsy' WA targets

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Apparently the first well in the Southern Georgina Basin is set...

Top Stories

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Week 28 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Bitcoin investors need to know the risks

Immutep reports strong response rate from immunotherapies treating carcinomas

Almonty locks in govt agreement for tungsten oxide plant in South Korea

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

ASX hits all time high out the gate on Friday trades following bullish US inflation data

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Nimy to raise $1.21M to explore 'newsy' WA targets

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News