CTP 3.64% 5.3¢ central petroleum limited

just relax, page-31

  1. 864 Posts.
    soredawg,
    I think exactly the same thing when I see people post extremely abusive, libellous remarks from the safety of a computer.

    This is a very interesting section of the report:

    "the only assets bought with the purchase of PXA were the various farm-in arrangements and interests of PXA in the
    Group’s operated acreage."

    Others may have seen that before, but it means that the only reason for purchasing PXA was to buy an interest in CTP. Although it was QGC not BG that bought PXA, it still seems unlikely that they'll walk from an investment that size and if QGC thought there was enough reasons to invest in CTP, BG probably will as well.

    There is no sign that any of the JV partners are looking to leave and people should not assume that the absence of drilling dates on quarterly report day, means that there won't be drilling soon.

    For those that want to speculate, maybe we can wonder why the quarterly was left so late. I think there are two possible reasons:

    1) Negotiations are very nearly complete and CTP hoped to have them finished this week
    2) Negotiations are nearly complete and CTP wanted to minimise the time between quarterly release and drilling timetable release, to shorten the sell down period arising from holders disappointment in the lack of a finalised schedule.

    The company has lots of money and will explore, delays of a few weeks or even a month or two won't matter at all to people who hold long term.
 
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