From DJC report, 26 July 2013;
http://www.centralpetroleum.com.au/files/downloads/dj_carmichael_research_ctp_260713.pdf
"Central Petroleum Ltd (CTP) Major Funding Hurdles Removed, Farm-out Nearing
CTP has completed a capital raising which has removed the major funding hurdles until the end of 2014 and has strengthened CTP s shareholder base with the introduction of strategic institutional funds. With the key headwind of funding removed, investors are now leveraged to material catalysts in the near-term, including the farm-out of the Surprise area which we believe will re-rate CTP. We maintain our Speculative Buy recommendation and price target of $0.32/sh. Key Points: Major funding hurdles removed. CTP has completed a capital raising which has removed the major funding hurdles until the end of 2014 and has strengthened CTP's shareholder base with the introduction of strategic institutional funds. The placement has raised $10m at an issue price of 10c/share. We believe CTP is now fully funded for the development of Surprise West and the appraisal/development of Surprise East. Provided Surprise West and Surprise East perform according to expectation, CTP expects to have free cash flow next calendar year of around $20 million, sufficient to fund its share of Stage 1 of the Total Farmout."
All irrelevant BS anyway.
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