it's been a while...

Hi All!

It has been a while since my last post. We've been so incredibly fortunate to have the insight of psi and Ya over the past couple of weeks, the ever-witty bondijim posts, and the countless newbies and oldies all voicing varied opinions pertaining to Central Petroleum and more recently, their Johnstone-1 mine. For this I am ever so thankful.

I have to say that I am no industry specialist like psi or Ya, nor am I a charting specialist like our old boy U-Turn, however what I am is another CTP holder watching intently and drawing conclusions based on what I have seen and read.

Today has been a disappointing reaction by the shareholders, and as most have pointed out, the day traders. It must not be lost on everyone that 14m of live oil could quite possibly be monetised as commercial product. Given any increase to this figure, it would only further solidify this position.

The amount of gas discovered in the Horn Valley Siltstone is also intriguing as it seems to be high. I would pose the question to our beloved experts as to the viability of monetising these shale gases from the siltstone. Is it possible? Is there enough based on what little evidence we have so far?

This would indeed be a lovely addition to the live oil, and given commercial viability of this product also, we could see Central raise capital in order to complete 3d mapping of the area and put in place some form of procedure to extract both the shale gas and the oil.

I hear some groans in the back...

Capital Raising has become a dirty terminology for CTP holders as many believe this rocked the share price previously. Whilst that WAS true, we have an utterly different paradigm with which to work. In this case, the capital raising is to aid in the monetising of a RESOURCE (given logging and flow tests identify it so) and to further map the area leading to another exploration timetable for next year - hopefully identifying many more targets in the Amadeus (including Mereenie) and possibly EP97 (which hosts the potential monster Erec) which is an intriguing prospect in anyone's language.

In summary, 14m of live oil show, is a fantastic result if the company can monetise it. This is where the battle will be won or lost. I believe they have a good chance, though I have no empirical evidence to back this up. It just seems logical that 90+ meters of oil, with 14m of high quality black stuff has to be at least somewhat indicative of a commercial discovery. Fingers crossed.

Moreover, the gas could be a play I wasn't even thinking about previously. Potentially another commercial aspect of this well? Again, Ya, psi, help me out here?

Given future potential of the Amadeus and more time-proximal Surprise well, we seem in good stead. I just hope we can emulate some of the resource discovery in Surprise that we have managed in Johnstone! 2 such discoveries would do unspeakable good for the company's future aspirations, and obviously the share price.

Again, I, like everyone else am speculating on potential and possibility, but I am trying to use a certain logic to decipher this. Please DYOR at all times, and make decisions that are right for YOU. Everyone has their own justification for doing things, so what may be wrong for you, may be right for someone else. Always realise that your perspective is precisely that; your perspective.

If our experts could clarify if it is at all possible to glean commercial viability to some extent from current evidence, that would be appreciated.

Thanks again guys,

see you all again soon!

RB