Hard to say what valuation would be given- huge difference between a total land figure (ie entire tenement or farmed out area) and a more prospective specific area that has had success and development (2d seismic, roads and other infrastructure). BUT considering that 2 million acres AROUND Surprise, there is a difference between a Surprise JV and one in the rest of EP115. The surprise well itself isn't really an acreage anymore and Cottee has said they will try to do it alone- because they consider it a money maker and also to create a brand/identity for ctp for people to relate to. So perhaps could farmout EP115 sans Surprise with a cash component to develop surprise itself? There would be no point having 115 sitting there while CTP is busy with Surprise and also the operatorship of the Total JV tenements I think. Anyway hope good ann comes soon
CTP Price at posting:
60.0¢ Sentiment: LT Buy Disclosure: Held
