Any company whose survival is dependent on one well does not deserve to survive because oil exploration success is less than a 50-50 chance.
But I think the company will survive with the failure of Surprise 1 because CTP has 53m acres of shale gas potential that would interest many players. If Surprise 1 fails, the SP will get hammered because the fear of the SP falling is self-fulfilling.
Those who rely heavily on Surprise 1 will be disappointed but I see the failure as an opportunity. Firstly, shale gas investors can top up at a fraction of the price. Secondly, CTP is forced to bring in a partner. A new partner will mean dilution but at least with the expertise and cash we should be moving forward.
CTP has got it wrong by not getting a farm-in partner. With the failure of the CR, it is exposed to predatory moves and no doubt will pay a heavy price for it. It is all about strategy and expertise, and both are lacking from current management, which should be corrected by a new partner.
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Last
4.9¢ |
Change
-0.005(9.26%) |
Mkt cap ! $36.26M |
Open | High | Low | Value | Volume |
4.9¢ | 4.9¢ | 4.9¢ | $490 | 10K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 538291 | 4.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 70708 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 538291 | 0.049 |
2 | 25520 | 0.048 |
1 | 100000 | 0.046 |
2 | 173952 | 0.045 |
1 | 50000 | 0.044 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 70708 | 2 |
0.054 | 96554 | 1 |
0.056 | 19995 | 1 |
0.058 | 172431 | 1 |
0.060 | 212209 | 4 |
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