what an opportunity - an npv of 50c per well

I am dumb-founded that CTP's share price is sitting at these levels. This must be a function of the overall wider market sentiment.

It's funny how markets think. The recent dip in our markets happened to co-incide with the issue of over 300million shares. The obvious selling pressure was compounded by falling markets and the share price fell below the critical issue price of 7.5c.

Instead of seeing this as an opportunity to buy into the most exciting company in the market, investors and traders alike are displaying fear and apprehension in declining markets.

Were it not for this world-wide correction, i believe that CTP would be trading at or above 10c presently, and i also firmly believe that it will be trading closer to 20c within the next few months - irrespective of a market correction.

And here's why:

1) CTP owns the largest exploration spread in Australia - over 270,000km2.

2) Plenty of Cash in the bank - Cash backed at 5.5c

3) Massive and Diversified Resource Targets with high impact drilling occurring immediately.


a) OORAMINA-2: Will spud before 31st May targeting 2 Trillion Cubic Feet of Gas. Drill Rig has been mobilised. Company has quoted a 40-50% chance of success. It is being drilled right next to the old well that was drilled in 1963 and it was never tested properly.

b) JOHNSTONE-1: 15th June targeting 500 Million barrels of oil. 20-25% chance of success. This is massive to say the least. The potential here is mind-boggling. It is similar in structure to the nearby Mereenie oil field which has been in continuous production for almost 20 years.

c) MAGEE-2: 1st August targeting 800 Billion cubic feet gas + 15Bcf Helium. 25% chance of success. Magee 1 was drilled in 1992 and flowed gas to surface with condensate and 6.2% helium, which currently sells for a whopping US$100 per 1000 cubic feet!

Add to these, 2 trillion tonnes of coal and the mind staggers to comprehend the potential this company has.

I spoke to JH at length recently regarding the valuation placed on CTP's upcoming wells by 'proactive investors':

*an NPV of 50c per well and a share price over $10.00 if all three wells are successful*

He stressed that the article was independently produced however, upon probing, he did not deny that the results of 'proactive investors' valuation were similar to the company's own valuation.

That is good enough for me. I've bought in heavily and I'm now sitting tight. I anticipate a very active and exciting next three months.

Most companies, if they are lucky, have one potential "company-maker". CTP are in the enviable position of having 3 in the next 3 months! It's now or never for CTP.

As the drill results near, i believe we will see a vicious change in sentiment. People will NOT want to miss out on this ride. It is just too big, too enticing, and the potential rewards are too large to miss out on. Once the sentiment changes, and an obvious uptrend begins, we should see CTP heading back to 20c before any positive drilling news becomes apparent.