CTP 7.69% 4.8¢ central petroleum limited

I'm somewhat disappointed that conventional reservoirs are not...

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    I'm somewhat disappointed that conventional reservoirs are not even worth a mention in any releases about our SGB drilling. Lots of papers written about the SGB points to the possible existence of conventional traps. I suppose it is not worth a target by the Gorillas as they are going straight for the big prize. Whereas a few mil bbl of conventional oil here and there goes a long way in solving our future funding issues. The unconventional will take a decade to commercialise, serious money will need to be spent between now and then. Lots of juniors are falling by the wayside trying to prove up the unconventional because of funding issues. Even the likes of BPT, DLS, and SXY, who have plenty of income from their conventional oils still need to farm out their unconventional acreages. What chance have we got with a declining 200bopd field?
    I'm sure RC is acutely aware of our funding predicament. As much as I'm frustrated about Surprise West not being drilled yet, I'm sure there must be valid reasons why this is so. The survivability of CTP takes a very fine balancing act between risk taking, diluting the register, or diluting our assets. The Magellan acquisition points to the wisdom that RC have in strengthening CTP way into the future. What remains is still our acute funding issues. I'm still anticipating some sort of deal with Santos regarding Mereenie. I could be just dreaming though.
 
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