Below is a forecast for the region. Remember, as soon as the rainy season starts the NT & SA roads authorites may opt to close the highways. Should they close the highways, this rig will be stuck there (in the middle of nowhere) for the entire wet season, which may last 6 months. Should CTP have to pay day rates for the rig, where would they get the money from? They are desperate for cash to just finish the current drill campaign. Last CR only a couple of months ago was a dismal failure & abandoned & now this attempt at raising capital has been extended. To me, it looks like the extension is not long enough time wise to drill it properly anyway. Even scarier is the below forecast showing heavy rains on the way with no let up.
Would love to hear from someone with mates closer to the action on this one;-)
http://www.eldersweather.com.au/raindates.jsp?lc=d05&dc=disableCookies
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if the rains predicted come will ctp be broke?
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