Market Pricing of CTP

The CTP share price to date this year continues to disappoint, and while we all wait with baited breath, sadly Mr Market prices accordingly. While LD continues to perform well from a position of fiscal responsibility, as I have said many times we need a bit of entrepreneurship in this small cap sector. Our SP has been under 13.5 cents since late Jan.

Now the pandemic can be blamed for quite a bit of our woes, but not all. There are plenty of energy small caps that have performed very well since the Mar/Apr lows of the initial COVID-19 panic selling, think GLL & EXR to name a few. Considering CTP is based in QLD and has acreage in NT/QLD, which have had virtually no real pandemic impacts compared to their southern neighbours, and the rest of the world in general, this excuse is wearing a bit thin.

First let's think about what was actually done in CY20, and these are;

- Mereenie & PV Reserve Upgrades: Nice but understandably the market shrugged.
- MOU signed for a Moomba Pipeline: Nice again, but no guarantees so again the market shrugged.
- Mick McCormack joined board: Very nice, and perhaps the best news of 2020. Market agreed and added 20%
- MQG deal for GSA to provide cash to do drilling at Mereenie: Nice again, but generally production sustaining in nature

So what was promised, under the very stated guise of increasing the share price, at about this time last year? Well refer below from Slide 20 of the AGM Presentation from 07 Nov 2019. Of the 10 catalysts, we have achieved just 2 to date, being the Dukas Forward Plan (drilling now perhaps 2022 at best) and Debt Refinancing.

There are only 3 big issues that the market has been waiting for, was promised, and we still are waiting on, These are, in order of likely SP value driving order;

1. Range Pilot & 2C to 2P Conversion (with path to Project FID)
2. Exploration program drilling near term planned and committed
3. Dukas-1 Drilling pathway commitment (secure the big rig and firm the timeline)

We all held very high hopes with the good news from late 2019, and sadly nothing has happened in 2020 to date. But holding hopes for CTP, and it's share price, is something shareholders have been encouraged to do for many, many years. Primed for Growth we are told, but we really need those growth primers to be committed to and timing announced ASAP...