This valuation is a starting point estimate only......What can we farm out acerage for right NOW. This will be very important to get the initial farmouts negotiated and signed off IMO. It may also be of some help to Ryder Scott for the TSX listing.......
As JH points out CTP will progressively farm out acerage over the next few years to maximize value for the company as an anticipated spike in acerage buyin cost occurs due to a rush to the oil/gas fields as happened in the US and as (good) results come in from the various current exploration programs in the neibourhood.....(fingers crossed)
Remember this is only an estimate of some of CTP's holdings it is not an attempt to value the whole acerage package.......But it is evident from this part valuation that the current SP is a gift and that initial farmins will be at a reasonable level.
CTP Price at posting:
36.5¢ Sentiment: LT Buy Disclosure: Held
