Positive news at last, page-4

I am sticking this here.

LD & team have put up a most ambitious drilling program. I thought it audacious.

CTP has permits over near a third of the Northern Territory and a big chunk of W Queensland - 180,00Km2. It needs to spend on drilling that big slate of Amadeus targets. There had been considerable exploration; time now for the bit. Not to gamble and go all-in, but to act on the potential before us.

CTP is selling rights to a few producing wells. I fretted over this and hadn't connected the dots to... this does't matter. CTP still owns the facilities, pipes, ex permits and operates. Giving up a little now will bring out-size benefits later.

If LD's dream comes true, 2020 drill program has three funding streams: retained earnings, sale of production rights and JV partner contributions. Plenty there to fund $51m for drilling.

CTP has never filled the NGP. Jemina stands ready to add pumps whenever the volumes justify. The near term limit is Mt Isa consumption plus the south-bound capacity of the Carpentaria Gas Pipe. If CTP outproduces this limit, APA would happily add pumps onto CGP too.

So, drill. Now.

Ash