CTP (ASX) Questions for 2017 Annual Report Webinar

Originally posted by OilGasPlanning ↑

2017 Annual Report Webinar

CTP Shareholders

In order to genuinely get the best out of the webinar…..

I am concerned that the format of the Webinar could lead to questions being brushed aside because the proponent cannot follow up in real time if an answer requires further clarification.

The overarching concern expressed to me by a number shareholders is that they are being deliberately kept in the dark by CTP and this is my own personal view.

I would like to see the recitation at the beginning of the meeting kept as brief as possible as I hold the strong opinion that formal ASX presentations are the correct vehicle for announcements Etc.

I have come up with a preliminary draft of the questions I would like to see answered and am posting it now to provide at least some time for feedback.

I would appreciate comment from fellow posers prior to formulating them ready for Monday/s Webinar.

Questions

Strategic Planning

Is the CTP master plan primarily biased towards appraisal drilling and reserve certification in order to increase the chance of an acceptable takeover based on certified reserves rather than profits?

Under the Joint Marketing/Gas Staring Agreement/s between CTP/MAC is there presently any restriction on CTP taking up all of the presently available capacity of the NGP (60 TJ/Day) from Palm Valley, Dingo and Ooraminna gas fields?

What is CTP’s strategic plan for negotiating increased capacity of the Amadeus, NGP and Carpentaria pipelines to allow a pathway to market of CTP reserves to say 200 TJ/day?

What is CTP’s ultimate target TJ/Day gas contribution to the East Coast Gas Shortage.

Business Parameters

I appreciate that these may have been answered in part or in full by various reports in the past but the objective is clear communication to shareholders.

Would CTP be prepared to format the financials of all future Reports with Gas sales treated as oil with number of GJ and average price /GJ clearly stated, ideally for each gas field?

Would CTP be prepared to be much more transparent with shareholders on the existing and expected range of flow rates (Depletion curves) for each of their gas fields?

What is the expected profit to CTP for each GJ of gas sent down the NGP to the East Coast Market ($3/GJ)?

What is the expected range of Cost of Production of Gas at Site Gate for each of the CTP gas fields once the NGP is commissioned?

Assuming that the NGP haulage is fixed at say $1.40/GJ what is the expected Range Costs of Haulage to say Wallumbilla with and without pipeline reforms being applied to the Amadeus and Carpentaria pipelines?

What is the expected cost of future expenditure required for Mereenie Surface and Gas Processing Facilities to cope with the 70 TJ/day mentioned in the latest CTP presentation?

Also what is the expected cost of future expenditure required for Surface and Gas Processing Facilities for the Palm Valley Dingo and Ooraminna gas fields if horizontal drilling proves to be commercially successful?

Pipeline Tariff Regulation

Since the Carpentaria pipeline only has about to TJ/Day available capacity After Phosphate Hill gas is taken onto account) does CTP expect that APA is likely to spend money upgrading their pipeline capacity against a backdrop of tightening regulation of pipeline tariffs and could a similar situation apply to the Amadeus Pipeline which presently has a 104 TJ/Day nameplate capacity?

In the event that pipeline tariff regulation forces APA to haul gas at a much cheaper rate is CTP banking on the fact that they will not expect most of this reduction to be passed onto consumers rather than going to gas producers?

Appraisal Drilling Program

Is Macquarie making any contribution to the 4 well appraisal program and if so what is it?

Would CTP be prepared to provide a simple graphic and specification of the proposed horizontal appraisal wells so that all shareholders have a clear idea of what is going to happen?

Are the appraisal wells capable of being used as full production wells?

What is the location of the appraisal wells?

What is the scope of surface facilities and gas processing facilities are likely to be needed if they are commercially viable as production wells?

Project Schedule

Since we already have the funds, have we already started lease construction for the 4 appraisal wells and if not will the access roads and drilling pads & cellar conductors Etc. be constructed before the wet season commences. (NT Wet season Nov-April) particularly for leases that ado not require MAC approval?

Have we ordered the Drilling Rigs Casing Blow Out Preventers Etc. and if not when will this be done?

Have we also checked the availability and delivery of fishing tools Etc. for the particular type of wells we are drilling.

Since drilling of Ooraminna (Spud by End of April ?) is needed to maintain CTP tenure why not get on with it to eliminate the risk of unforeseen hold up/s ?

If a positive result on the Ooraminna reserve certification and depletion curve indicates that commercial development is feasible why have we not programmed the appraisal well to facilitate the earliest possible (FID) final investment decision on the surface facility, gas processing and pipeline?

Regards

OGP

Expand

Do you think that we will have sufficient money to drill the four (or five) wells as anticipated.?

Have drilling suppliers/contractors been engaged and contracted for as yet.??

Reason being that the longer we will wait the more the money we will spend.

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