Thanks for the kind reply. so after a week of trading i'm finally set..with a few more options to buy. even paid 11c for some :O.
I see these catalyst for the stock in the short term.
Paterson broking the stock as NSE ramps up drilling. (poor choice of funding source for my CTP, but time will tell). there should be a few instos who've had a good time with nse and bru to lust for the next one...CTP fits the mold.
Crude finding some hot money with the prospect of EU and UK stimulus tonight, China easing short term (spec is RRR cut soon), and the always doubtful QE3 in the states. Already seeing a little risk appetite from the instos on commodities, but could be short lived. However, brent sub 90 is attractive to the chinese Strategic oil reserve buy pad.
JVP or farm out..next obvious move. I have no preference one way of the other for the new CEO, and i am certainly not saying CTP is an M&A target, but if he lead a company from a $20m explorre to be taken out at $5bn+...i think the least he could to is get a JV partner.
IF, a JV partner steps up, then lets look at the metrics. When Mistu bgt into BRU it was a ~$12/acre, CP for NSE ~$11/acre. Lets be uber conservative and say we can get a sale away for Surprise at less than half that...$5/acre? That doubles the current mkt cap....that's all see wrote.
CTP Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
