Bear in mind that Dukas is a true blue exploration well with an associated chance of success of less than 10%, initially even ranked lower. The other prospects including Range, that may be drilled this year following the farm in have actually existed for over 7 years (as prospects). Acknowledging that the company has gone through some tough times with the scheme of arrangement exercise (Macquarie) and paying down debt, the addition of this absolutely fabulous well at Palm Valley, it is difficult to avoid the observation that Central is currently suffering from an unimaginative management. Having said that, I have high hopes with the new Chairman, fingers crossed. I have chosen to downsize my holding in this company, ..... and you know where that money went to !
CTP Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
