CTP 5.45% 5.2¢ central petroleum limited

Ravi old chap, from what I have seen in announcements, it seems...

  1. 741 Posts.
    Ravi old chap,

    from what I have seen in announcements, it seems that there is no gas presently available to enable new GSA's even if they were available pre Jemena pipeline. As I understand it, perhaps not entirely precise in detail but otherwise relevant, when CTP purchased half Mereenie from Santos there was a clause limiting the amount of gas CTP could take without the partner's agreement. An offtake agreement, so to speak. But now MB have that agreement having bought out Santos, and any more sales gas for CTP has to be agreed now with MB. Are they likely to agree, your guess.
    I have no inside information , this has all been published or presented by CTP, and probably also in the 3 kg scheme booklet sent out.
    To get more uncommitted gas they will have to drill, with probably the best chance being Palm Valley Deep. But not for sure and certain either. And to drill anywhere will need quite a few million dollars, which is what the cap raising issue has been all about for months now.
    In my considered opinion.
 
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