Hi guys (frustrated longtermers and gullible newbies). One thing...

Hi guys (frustrated longtermers and gullible newbies). One thing that seems to dominate the ctp forum of late has been the overwhelming pessimism of some shareholders. The rapid decline in sp the main culprit.
Its anyones guess when she'll bottom out. 7.5c being suggested (benchmarked to rights issue)
this has all been as a result of the new cap raising as a result of JV partners not contributing funds for their share in the new upcoming drilling campaign.
Just found an article that relates to our JV partner-BG (Big Gorilla). Seems they have signed a historic gas deal in Qld. Seems like they have alot on their plate hence putting ctp on the backburner.
here's a snippet from the paper:

THE signing of Australia's largest ever liquefied natural gas deal, set to be worth at least $60 billion, is expected to deliver up to 8500 construction jobs and another 1000 operational jobs.

Under the agreement, British-based BG Group will supply 3.6 million tonnes of LNG each year to the China National Offshore Oil Corporation from its Curtis Island project at Gladstone in Queensland.

The contract could be worth $60 billion to $80 billion over the 20-year life of the project, although the volatile oil price will ultimately determine whether it will be more or less.

Is BG really a burden or a competitive advantage?????
all will be revealed stay tuned..............

maybe ctp shares will be worth $8-12 soon. 1 can never predict in a speccies market. BG seems to be hot and on a roll. If only they turned thei interests to central oz, rather than focussing on Queensland