CTP

7.69%

4.8¢ central petroleum limited

I am happy to be wrong, I hope you will forgive my scepticism! I...

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diggingyourselfintoahole

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38

22/07/14

20:44

Post #: 13698583
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Originally posted by speculator101 ↑

Digging, as hunchback quotes, Total will be drilling this month. So CTP will indeed be spudding soon.

Fair enough about your 'round the corner feeling', however, surely in the past CTP did not have such a large work program that is actually going to be completed over the next 18 months? (I do remember when CTP promised 4 wells in one year. That was probably the closest CTP ever got to being an 'exciting' explorer. Since then its been slooooow going, as you know.

While I agree there have been delays, and the work planned does require a large amount of effort, they are not alone unlike in the past. Also, the funding is covered, which I have no doubt would have made planning much harder in the past when you have to worry so much over every $ spent.

When the 2 J/V were announced, the company clearly explained that the work programs would be heavily skewed to the 2nd half, as a big part of the farmins was to get a HUGE amount of seismic done to better delineate drillable prospects. Well, 'tick', that is now done. All the seismic done to date has been of good to excellent quality. CTP has clearly said that they and Total/STO have analysed the data and now they are choosing targets, or in the case of Total drilling.

This is surely CTPs corner? Of course, a good amount of scepticism is healthy in this sector. I am hopeful Total will start drilling on time, to show that things are starting to change, albeit, the wells were already slightly delayed ;-P

We should get an updated presentation from the conference CTP is presenting at this week.

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I am happy to be wrong, I hope you will forgive my scepticism!
I am pleasantly surprised CTP as operator actually got something spudded at a time they announced. I feel like we should throw a party, but I might just wait a while to make sure the rig doesn't fall over before we get to target depth...

Hopefully this is a sign of things to come. Some hydrocarbons would be nice to see now...

CTP Price at posting: 38.5¢ Sentiment: Hold Disclosure: Held
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