I am honestly disappointed by the market's reaction to the...

I am honestly disappointed by the market's reaction to the outstanding news.

Although my calculations of value recently ($0.15 for 300Bbls production) are based on a P/E that of course could be swayed up or down, I do believe it represents fair value of the company based on what they are likely to make as cash flow.

Allowing for a discounted P/E, down to the lowest levels I have seen in the O&G market on the ASX, you should still be seeing $0.08 giving you a P/E of only 10.27. This would put CTP on the bottom rung of Oil producers when clearly this should NOT be the case given all of the other potential - and the immediate potential of Surprise itself. Production in this hole alone could be magnified as per the announcement, by cleaning up the hole. Who knows what that could bring? 600Bbls? 1000Bbls?

Looking at companies whom we'd love to emulate, such as oil Search, they have P/E's of 30+ and some upwards of 40 or 50. Yes they have de-risked projects, with multiple flowing reserves, but that is something I hope CTP is also looking towards.

I find it rather perplexing that the market is not really paying at least a respectable homage to the result and what it's REAL FISCAL VALUE is. The market is kidding itself at the moment.

This is one of those cases of disbelief. If I were CTP as I have mentioned already today, as has CamdenBob, they need to capitalise on this well, and get another producing one in the same area to boos flow, increase their reputation and obviously fix share price lunacy.

Anyway, I AM happy that the price has moved up, but I feel it is underdone. We were at $0.062 in the lead up to Surprise re-entry, so to be struggling to hang on to that price, or even $0.06 at all is ludicrous.

Clearly still no support from Pattersons. Why am I surprised?

Still, congratulations to JH, and the operating staff, and of course to all CTP holders. Exciting times ahead.

RB