CTP central petroleum limited

It would be collective insanity if we voted yes.!!, page-4

  1. 314 Posts.
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    Regarding point 2

    2) That unless the gas contracts are signed by the end of 2017 that Jemmena MAY call for a "force majeure" clause may be invoked canceling the contractWrite your reply here

    This was if land council approval was not granted, at the time of the board accepting the MB offer, the land council had stated that a requirement for their approval for the pipeline was that it did not contain any fracked gas, therefore Cottee believed that CTP needed to prove that it could fill the pipeline with gas and the only way CTP could do this was to certify additional reserves to 2P to show that the pipeline could be filled with conventional gas by CTP prior to the next dry season to guarantee construction of the NGP.

    Cottee believed that Force Majeure might have been invoked if the land council did not grant approval for the pipeline to be built.  Approval has been granted with the explicit condition that the pipeline will transport gas irrespective of extraction methods.
    Last edited by Kato: 10/04/17
 
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