so, we ha seen a landmark OPEC deal to reduce the flooding of oil onto market and this should in theory help to reduce the disasterous impact to Aussie LNG exporters and should now with rising oil to generate interest back into exploration.
What does this mean for penny dreadful Central Petroleum? - It is of no "surprise" to now reconsider that Surprise oil well back on line and start to generate much needed monthly injections of funds, the Surprise oil well should now be part of the board room discussions.
Brent oil is now mid 50's and trading st its gphighest in more than 14 months and shall continue to rise over the following months, the experts are for asking $57 mid 2017.
These developments represents great news for for the likes of. Santos which in turn represents great news for Central Petroleum.
should Central now redirect its less than impressive on ground activities by recommending Surprise, this act in its very self would send a very strong message to the market and it should help central to find a balance by applying greater on ground boots activity whilst shoring up Finacial strength, albeit less than impressive returns.
Still, central would be best to maximise this boost to general ASX market sentiment after a couple of years of bearish over hung clouds. With bank on Central's coat tails and with central having to fund a $55 - $75 million drilling program, Cenyral should now start to step out of the shadows on less than impressive drilling activities since year 2012 and grab the opportunities that will now present many struggling ASX with forward looking growth prospects.
Cleaver Big Mac saw the oil hit bottom floor months ago and embarked on a quest to expand growth, bank current a weight on the coat tails of penny dreadful. If central failed to recognise the bottoming of oil months ago and a come back to opportunities (drilling costs) that can now be contracted on the cheep, then my sentiment for change in board representation remains high.
Central finds its self on a delicate pivoting, they need money but are out of market love, they need to start placing talk into action but unable due to lack of funds and need to ride the cost tails of a Jemena, zjV's and others just to maintain forward momentum.
Ladies and gentleman as the boxing ring master would announce, its now timeeeeee for central to take comfort those gloves of and start using all pugilistic art forms and change them selves and market perception of their performance and market stance. If current board are unable to ride the wave of global market swing of enthusiasm for Oilers and LNG entities, then shame on central.
Central was handed over in 2012 on a silver plate but was soon followed by coat tail intervention. I want to see the removal of the coat tail strategy and step up as a prize fighter.
If central are unable to pull out the rabbits from the hat now on growing oiler market sentiment, increasing strength in oil and soon to be announced pipeline tarrifs, then riding of coat tail at expense of gone share price performance shall continue to be the central's ethos.
Sentiment is mixed between hold or sell, time will tell based on actions.
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Last
5.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $40.24M |
Open | High | Low | Value | Volume |
5.4¢ | 5.4¢ | 5.3¢ | $6.255K | 117.3K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 20315 | 5.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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5.5¢ | 135000 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 20315 | 0.053 |
4 | 585734 | 0.052 |
3 | 840000 | 0.051 |
3 | 500000 | 0.050 |
1 | 100000 | 0.044 |
Price($) | Vol. | No. |
---|---|---|
0.055 | 135000 | 1 |
0.056 | 15000 | 1 |
0.058 | 6030 | 1 |
0.059 | 326120 | 2 |
0.060 | 150000 | 2 |
Last trade - 15.41pm 16/07/2025 (20 minute delay) ? |
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