Well in my opinion if the Underwriter pulls out of the SPP then it may be better for the shareholder. The reason is without the extra funds CTP will be forced to throw everything at Surprise 1 to get it to flow. They have the money to do that for Surprise 1. I am concerned that if they get the SPP funds that they will not throw everything at Surprise 1 and JH will go to his beloved Pedirka Basin and move away from a discovery like he did one year ago on the same well. The Pedirka Basin has no commercial oil and the Basin has never produced even one Barrell because every anticline has been breached by salt so it cannot trap oil or gas anymore.
CTP must only concentrate on Surprise 1 and especially drill horizontally into the oil zones to get a flow identified on the logs. They need about 500m of horizontal drilling into these tighter sands to produce a flow that would be exciting. Once we have a flow then CTP can use the same rig to drill further appraisal/development wells into the oil field. They need to concentrate on getting into commercial production as quickly as possible from the Surprise oil field so they can have a cashflow quickly. With the cashflow from Surprise 1 they can later fund other exploration elsewhere with no further dilution of shares and share price will go up!
CTP Price at posting:
26.5¢ Sentiment: Sell Disclosure: Not Held
