i don't understand what is so cryptic.QGC bought ALL the shares...

i don't understand what is so cryptic.

QGC bought ALL the shares in CTP's JV partner, PXA (unlisted).

that makes QGC (exploration) Pty Ltd CTP's new JV partner.

aside from this nothing much has changed and the prospectivity of the tenements remains unchanged and until we get an updated drilling schedule and guidance as to QGC's (BG's) intentions and more specifically their development plans we probably wont see too much acknowledgment of QGC's entry.

we know that British Gas have their hands full with their Queensland LNG project and lets hope that their interest in ctp's acreage isn't just a corporate chess game that ends up with CTP being check mated into a longer than anticipated development schedule.

on face value it's extremely good news for CTP but the new and evolving dynamics of the JV need to be sorted out and understood by the market.

cheers