Thanks paulharris, yes it would be good to drill Surprise and that would ideally be a priority. But another strike elsewhere that would prove up reserves will add to the attractiveness of CTP in terms of an arrangement that will provide further funds for drilling Surprise. There is a downside to the arrangement with Santos, they are taking a large share for their drilling expenditure, up to 70%. In my opinion this far too large a share, CTP report that the drilling of Surprise East is dependent on the outcome of farmout discussions. Could it be that they don't want to give up a large part of their (our) stake in the extension project given that it is very likely to be successful?
CTP Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
