I'm quite suprised to see such a big sell of before record date- to me it makes no sense... These are the reasons to support my arguement:
1) Ooramina a low risk (already discovered) well is going to be drilled within 1.5-2 months in a manner similar to the palm valley fields - this is a 2TCF prospect with a potential to push CTPs market cap to half a billion++ (5x)... 2) Following from that is the Johnstone propsect with 500mmboe+ potential (although this is a lot higher risk). Then magee again another low risk prospect that has actually flown gas to the surface. 3) Independent study to be out within the next 2 weeks - this will outline if we can commercialize low volumes of helium. 4) Desorption Results to be out in 2 months (according to JH this will be released after independent study has been done and the remaining two wells have been drilled) 5) Last reasons is that you can buy shares now and still be applicable for rights at 7.5cents and since for the reasons above you wouldn't expect the SP to fall below 7.5cents prior to record date - why sell now into the sub 9s??
CTP Price at posting:
8.3¢ Sentiment: LT Buy Disclosure: Held
