words and promises no more, action is required, page-44

I initial wrote the thread with genuine belief that CTP talk had neared the exhaustion point. CTP now need to be accountable and provide the proof in the pudding of their continuous and predictable selling of empty product and assumptions. Yet another announcement released today discussing the same plans and assumptions made 3 years ago. CTP where are we going, why have we not progressed greatly from 2007.

With close to 1 billion shares on the market, we do indeed need some positive news with quantification through solid scientific credibility of CTP being able to stand on their own two feet and being able to generate profitable and stable income.

In all probability the SP shall sink into further depth, the climb back up may be a very slow grind. The material capital raising does not seem to be going well, and this does not bode well for man nor beast. I would therefore expect more empty sales pitches and assumptions to be waffled from the BRR web cast or predictable ASX announcements.

One would at least expect CTP to provide investors with a solid determination of exactly what CTP has to offer not assumptions, not at this stage and not after some many years of drilling and seismic.

Unfortunately the recent drill gas results have been slow in coming which is cause for real concern, If CTP was serious in monetization they would be focusing on gas and/or HE as opposed to shoring up coal assets in the Perdika Basin, CTP can do that when they have money in the bank, not having to beg for it.

CTP, the general tide of enthusiasm, belief and support is dwindling, do not assume relationships with JVs can be mirrored onto investors, you will drive all away. Many investors concerns have never been with CTPs hydrocarbon potentials but with those managing CTPs operations and decisions. The updated CGT Presentation is just another exercise of poor planning and management, but this seems to be typical CTP competence.

CTP, there is only some much money you can drain from investors, assumptions can only be sold until the boy cries wolf, when are you going to deliver on just 5% of these hydrocarbon assumptions so boisterously talked about?

1. Monitisation from oil 6 to 12 months

2. Monitisation from HE 18 to 24 months

The above represents monetization from hydrocarbons, these time frames have been documented by CTP for a number of years, based on past performance money in the bank may well run out prior to any findings. The Ooramina, Johnston 1 and Magee 2 will either break or make CTP, we have 9 months to wait as to whether CTP was after all a pipe dream or the real deal.

If hydrocarbons are found, infrastructure (detailed design engineering, fabrication, transportation, commissioning, maintenance) shall be needed, this my friends cost a lot more money than seismic and drill combined, if one things that material capital raising is to be more, think again. CTP shall be asking you, me and many others for more money should viable hydrocarbon reserves be proved.

JH, whatever the reflected view of the JV partners they seem to be doing better than CTP, do you need to review the direction in which CTP is being steered. Can an organisation who recently signed an 80 billion dollar deal with the Chinese be wrong?

I do hope that CTP are not just drilling or implementing the current program just to meet the minimum requirements in retaining licenses, confidence in CTP is at an all time low and CTP now need to deliver.