gamechanger deal

The recent cap raise is a game changer because it allows CTP to drill another well before the end of the year on the East side of surprise. What this can rapidly do is increase the potential for the Surprise area and indicate the strength of the find to the market. A new well with improved horizontal drilling will significantly rerate this one area before the options are in.

Being well over and above the option strike price will provide certainty to the market and continue the SP on a positive track. The potential in the short term is for CTP to be around the 25cent mark. Being above the option price means the market is guaranteed to see 48mil come into the kitty, suring up the cah reserves for good and providing an exploration target for drilling the current areas around surprise and red riling Johnstone. The advantage of sticking mo wells in and around Surprise West is that the permits will already be present, so any well that produces can be put to market immediately, rather than the huge waiting period to jump through govt hoops.

CTP should be related to 18 cents in the next few weeks, a 50 percent gain from now and above the strike. This is without any news from Total or Santos which could deliver large potential fields from their seismic surveys.

Good luck to all holders