I am absolutely staggered by this announcement. It absolutely...

I am absolutely staggered by this announcement. It absolutely beggars belief that they would take this decision as it is devoid of any shred of logic.

I take the argument that Central now has an oil discovery and we should't worry with very little solace as the governing principal of a Junior Explorer with a maiden success is to capitalise on that success. I recognise the EPT is required before final flow and commercial viability is determined, so I also take under advisement the notion that we need wait for the test to be concluded, however what I am having difficulty getting my head around is that they would so facetiously take the decision to release the Rig and concern themselves with SEISMIC? The demobilisation costs alone do not justify such a heinous act of corporate perversity. This is a kick in the teeth to every investor who was finally ready to watch Central take the obvious step and capitalise on this asset.

Stacking the Rig for 3 months whilst we run the EPT will not be MORE costly than demobilisation and REmobilisation - and that is on the assumnption we can even GET a rig when we need it.

Rewind to September and I recall a desperately futile few attempts at getting a rig, but only for a piece of luck and good negotiation by JH, we secured the hunt rig as the 11th hour sounded. We barely got away with that one, and that we're willing to squander this moment is impetuous to say the least. Arrogant is more like it.

I would like to know who made this decision and if it was a universal board decision. How can we find this out? Surely there was a board meeting to make a decision THIS large. It stands to reason that if a board meets to discuss large decisions then I would assume the direction of the company and the appropriation of funds could be filed as "board meeting worthy"?

ARE THEY INSANE?

This is tantamount to Stock Market Suicide.

I will say, with quite strenuous belief that the market will NOT PAY FOR MORE SEISMIC, and for those who disagree, take at look at the share price come Monday - that will be my evidence. They are sick to death of raising money for Central Petroleum, but we've been lucky that with so much prospectivity and new targets almost in perpetuity, we've been able to raise funds based on the next drilling campaign. NOT SEISMIC. Who here would have put money down if the board clearly stated a seismic campaign? The square root of stuff-all! Who on earth would want to or COULD raise funds based on more seismic? Even if the EPT is successful, it simply won't be enough flow to really push CTP into the market cap status required to attract large investment bank attention. 2 wells will de-risk the project and heighten the valuation matrix such that we may be a viable investment for these larger corporate types. These are the partners we need to move us forward. I have been one of Pattersons' harshest critics on this forum, and on this occasion it would not surprise me if they give CTP the bird and walk away.

This is lunacy. Absolutely preposterous.

It doesnt take a genius to work out that, as Karl stated, we could move the rig within some measure of "proximity", drill another hole, AFTER the EPT is finished and it is determined if the hole will produce commercially.

If it turns out to be a false dawn, at least the company can be seen to have taken POSITIVE strides to at least examine the possibility of capitalising on this discovery. Not THAT much money would have been lost by stacking the rig during this time - less I dare say that demob and remob (as stated previously). Factor in the dearth availability of rigs, and we're stuffed for a good 12 months.

Maybe this is why Mr. Faull and Mr. Dunmore (who doesn't even live in the bloody country!!!) saw fit not to take up their SPP? These two clowns were part of the decision making? I am finding that one a particularly bitter pill to swallow. I note in the 2011 annual report that Mr Dunmore has 776,666 shares... the SAME amount as 2010.

YOU HAVE GOT TO BE JOKING MATE. You're making decisions that affect our share holding? This company? Goodness me, how have you survived THIS long?

This is not something I support. Not at all. Will this decision wreck the company? Probably not, but it is going to put one HELL of a roadblock on the path to success. How are these guys employed?

Sorry guys, I am pretty upset with this one.

RB