Hi all!I hope this finds you well and slightly lighter in the...

Hi all!

I hope this finds you well and slightly lighter in the pocket after you have undoubtedly spent some well placed coin on your CTP rights! I know I have, and it feels good!

I noticed Jakebrock posed a question about the valuation of CTP and its resource.

With that inspiration, and the obvious need to get some sort of idea as to the potential, I have done a very rough spreadsheet, attempting to calculate what I believe to be fair values for the company based on findings in the upcoming drills. I have taken into consideration the POSSIBILITY of the OA's being exercised (which for this example is actually bad as it dilutes the net results in share price forecasts), however this may not eventuate as we have discussed in previous threads. I also included the Rolling Convertible Bonds in the calculation.

Can I take the time now to put to you my caveat that I do not claim to be the grand master in Oil & Gas valuation, but I have been researching it, and have tried to simplify it as much as possible. Please forgive my mistakes (as I do not doubt there may be one or two), but please feel free to provide constructive criticism and direct us so that we may ALL learn more and get a more accurate picture!

Thanks again as always guys for taking the time to view my post!

Have a great long weekend!


RB