flow testing, page-5

Yeah I agree with your logic oilslick, and certainly don't begrudge the cautious approach.

Personally though, I'm going to take the punt on it. I am a bit worried that if the flow rates come in at around 100 bopd (a rate which is still potentially commercial with fraccing or laterals and enough wells), a combination of disappointed investors and "buy rumour, sell fact" traders will push the SP down hard.

CTP's biggest problem is it's been trumpeted for so long that people have the expectation of a quick buck and don't realise that it's a great (and much more certain) long-term prospect than it is an immediate prospect. Everyone wants 500+bopd and a ten-bagger by next month, which is not realistic for this company IMHO.

So I think your strategy is a good one and that you probably will be able to buy at lower prices in the near future. But I've been in since before O-2 and think I'll bottom-drawer this stock. I know from bitter experience with other stocks that if I try to start trading, I will inevitably buy high, sell low and not be holding when the gusher happens!