donthat i couldnt agree with you more- its a public forum for people of all walks of life to post- hot copper has both its benefits and its negatives. it is extremly positive for people such as myself( not an industry expert) to be able to learn a lot through quality posts from people such as ya and psi81 that offer quality information regarding geolgical specifics and expertise which would otherwise probably not be attainable without such a forum.
On the downside is the fact that people are allowed to post regardless of their a) motives b) investment strategy c) purpose d) level of research or expertise e) credentials- Even though posters advise others to do their own research, the problem is that certain information is still absorbed to some extent in investors minds regarding a certain ideal or stance that particular posters take in regards to their bias towards a stock.
The time has come, for Central Petroleum to commence to make headways on day-traders radars with a multitude of announcements imminent which could benefit the everyday day trader in a very healthy way but the overall strategy medium/long term holders of Central Petroleum should keep in mind is the main reason why you invested in Central Petroleum in the first place. Like psi81, ya and others have posted on this thread- including myself is that regardless of positive driling at O2 we seem to see many heading for the door. Keep in mind that most of those heading for the hills, are most probably the ones that had unrealistic expectations about the significance of o2 to the Central Petroleum story.
Many refernces online produced by quality engineers had already discussed that the o2 well with many other potential amadeus basin plays typically represent possible tight gas plays. Considering that Ooraminna1 flowed some 12mcfd due to formation damamge, what were people realistically expecting flowrates to be achieved once we hit the pioneer sandstones prior to any fraccing- 2-6mmcfd?? honestly-
Some may argue that spending exploration money on this well along with magee and the pedrika basn coal wells as being money thrown away as its long lead times to commercialisation should a commercial find be made is not in the imminent future but the strategy to fund these wells and to ascertain what plays we have in the basins was the overall objective of this drilling phase- I hardly see getting a JORC compliant trillion tonnage of coal report as being worthless to a energy hungry world (no matter how deep it may be).Besides if that was the case, I doubt moves such as Merlin Coal applying for another three leases and Rio sniffing the area lately would have occured. I would genuinely suggest that those looking for oil dominant explorers to consider investing in a pure oil company on the asx which can give you the short term monetisation you require-
Central Petroleum business strategy has in no way changed overnight.In saying that, those who have thoroughly done their reaserch have finally committed to an investment in CTP for their multi commodity exploration strategy+ JH has been very responsible and forthcoming to present BRR interviews and to answer investors questions regarding any uncertainty but ultimatly at the end of the day, I am pleased at the results that have been achieved at o2 to date and await NSA results regarding our Pedrika Coal basin results.
As for the ideal that our helium, gas and coal plays are worthless due to long lead times and lack of infrastucture-BOLLOCKS. Im sure the same was said for the gulf of mexico for oil- the pilbara for iron ore and even the surat basin for csg during their early stages - In hindsight, the moral of the story is first mover advanatge is what we have should and when the red centre is the energy huh of Australia on a fruitful drilling campaign.
Sure getting great results at johnstone would be ideal for central petroleum to become cash producing and able to fund future drilling projects in the shorter term, but personally as previously stated, the down days especially on CTPO's just give me more reason to celebrate on another opportunity to top up at considerable discount prices. Very pleased at the communication that Central Petroleum has given shareholders on well updates and have faith in the longer term strategy of Central Petroleum proving up resources to fund future exploration-
CTP Price at posting:
31.5¢ Sentiment: LT Buy Disclosure: Held
