rats in the rank!!, page-6

JH in 2005...

"Although monetising gas in central Australia could be difficult due to a lack of markets, one option could be to take over after Santos and Magellan (the Palm Valley and Mereenie prospect partners who are exporting gas via the Alice to Darwin pipeline) run out of gas. Theyve got enough gas to supply the current contract until about 2009, he said. There are limited amounts of gas drilled reserves in the Amadeus that they can tap into and, subject to listing, shortly Central will control all of the most prospective Amadeus Basin acreage subject to the listing well acquire about 80-90% of the total acreage in the Amadeus Basin, so theres no other gas exploration of real substance that Santos and Magellan can move into. However, this could be as late as 2009 or 2010 and by then some of the offshore discoveries might have been brought on stream to supply Darwin with sales gas."

2009 - ENI sign gas sales contract with PWC to supply the domestic NT market with gas for the next 25 years.

Ooramina - waste of time and money, 190 MCF/d pitiful, positive news - NO!

JH knew there was little to no value in gas, in the short term. I guess this is an investment for returns to shareholders after 2024.

As i stated in an earlier post finally this cash burn on coal and gas is over... for now.

It has and always will be about oil. Coal, gas and helium are sideshows and wastes of CTP cash. Now a 100+ mmbbl strike at in ground value is near $500 million. Do all these issues of how to monetize a discovery arise? No.

Therefore nothing positive came from CTPs announcement, hence the sell down. Now for those who didn't believe in the weak coal and gas story, the oil hunt is about to begin. You heard of elephant country? Well thats what the Amadeus could just be.