The way I've interpreted this recent announcement, is similar to my original thoughts and the thoughts of other posters who have participated in the ctp forum.
Like will2rob said below, I was always thinking CTP would try and release well results before the CR information. Also I noticed on the recent 'voluntary suspension' announcement, it stated 'regarding a potential cap raising'. I think we are aware that the CR will happen, although maybe there is a possibility that the share purchase price of the cap raising will depend on the JW-1 results.
If the JW-1 well becomes a proven commercial well, there would be current holders participating into the teens, let alone the 8.6cent figure quoted.
Maybe the 8.6 Cap raising plan also is taking into consideration the fact that some holders are refraining from participating into further CTP cap raisings, due to the implications of the previous ones and the fact that they have committed enough (in their opinion) to the company (in terms of their portfolio).
Whether JW-1 is commercial or not, this is huge news for the come. This is just one well of potentially many; and the value and prosperity of our acreage in the area has just increased in absolute leaps and bounds, I'm sure.
SJ.
CTP Price at posting:
52.5¢ Sentiment: LT Buy Disclosure: Held
