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Big Kahuna 101

8,830 Posts.

1400

10/09/14

22:50

Post #: 13956178
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Originally posted by dcob ↑

Forget about RRS share issues, the following company making announcement was made on 3/6/13 when there was a mere 406m CTR shares on issue.

"Significant Initial Oil Production Establishes Commercial Well"

"Initial 7 foot section (2846-2853ft) perforated in the Upper C17 carbonates has produced significant oil and gas to surface immediately post perforation"

"Flow rate of 610 bbl oil per day equivalent established over 24 hour period – average of hourly flow rates using varying choke sizes with a recorded peak of +1,000 bbl per day"

Fast forward 15 months and they remain on life support with 1389m shares on issue with yet another 500m to come for a total of 1889m…….Wow, that'll make great reading on the CV Brett.

History strongly suggests that the only thing separating this group from it's share holders capital is time.

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gonna be well over 2bil once the 2.2 mil loan is payed back plus all the options they are handing out at 1.5c conv now... anyone with 4c options aint cashing those imo

CTR Price at posting: 0.5¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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