no ctp is a coal company again, page-19

Ferd.. Gday, I can understand where you are coming from and I do agree that no-one is happy with more share dillution. The fact is CTP have always been exploring different resources within their tenaments. There is no hidden agenda between going from one resource to another.

They have shifted their main focus to the oil which they announced early september but that doesn't mean they have completely abandoned the other avenues of producing resources.

They needed to shift their priorities from the Gas/Helium prospects as they are a more long term, capital intensive programme. CTP require the cash now which is why they chose to explore further in the Amadeus basin in pursuit of oil.

I'm not sure why everyone is suprised about these Coal announcements, we knew they were coming (is it because of the timing, maybe?). This was announced however at the AGM that we will be hearing about it soon. No suprises there (pardon the pun)!

We knew that CTP have already drilled in the Perdirka basin and wish to expand the estimated JORC exploration target.

We know that they are currently planning and drilling 4 more wells in the Perdirka as we speak to further analysis the quality and quantity of the Coal to determine exactly how much Coal we do have on our hands. This was planned before the incident at Suprise.

Yeah, I gotta agree the timing of it all is suspicious and is more than likely a marketing ploy to get the market back on their side. I was expecting to hear more movement on the coal side of house around Jan.

But in reality, when you look at CTP's priorities, they need to take action.

CTP's priorities are:

1) Find Commercial Oil in either the Amadeus or Perdirka Basins - this is now not going to happen anytime soon due to the unfortunate incident at Suprise. As has been stated in other threads, this could have the potential to take 10-12 weeks before we can see another rig working there again (if not longer). Not much going to be happening here so no cash here.

2) Secure a Major JV partner - to get the coal out of the ground and to further fund the exploration programme. The way I see it, the only prospect so far for a JV is the Coal. Which is why I would say JH was over in China trying to secure a JV to relieve the financial burden that is placed on their exploration targets.

3) Revisit the Coal Exploration Targets - expand the JORC exploration target that has been set. Which is what they are doing now in the Perdirka basin.

So in my opinion, CTP announcing the Coal progress is their only viable option at this stage so it does not come as a suprise to me. They need to keep the market happy and secure that Major JV parter sooner rather than later otherwise they will struggle to fund future programmes in 2011.

All in my opinion of course :-)

Cheers