A recent CBM and GTL pre-feasibility study undertaken by...

A recent CBM and GTL pre-feasibility study undertaken by Mulready Consultants and Holt Campbell and Payton consulting engineers details prospective recoverable CBM resources ranging from P90–34 TCFG to P10–70 TCFG which according to the study have potential for fueling a 140,000 bbl/day GTL plant located at Alice Springs to produce ultra clean diesel, jet fuel and naptha over a 70 year plus lifetime The breakeven prevailing oil price of such a plant would be c. US$30/bbl. Smaller intermediate plants fuelled by conventionally reservoired gas are also under consideration.

CTP may spud as early as monday,perhaps even earlier . Is the market sleeping, snoozing or just given up. The share price is very disappointing Hopefully the greedy banks will pass on interest rate cuts to borrowers, and this may stimulate further interest in investing in shares.

CTP holders have a glimmer of hope as we await the positive news of the final logging results, which will hopefully prove we are on a winner.

But right NOW, we are drilling 2 CBM wells, exciting times as we dont know whats down there. In a couple of weeks we will know. Im confident we wont encounter the same obstacles at Blamore.

Time to see some share appraisal in CTP. All UP from herein.

good luck to all ctp holders