# CTP - Central Petroleum



## idribble (10 March 2006)

an extract from a report by Martin Place Securities.

*CTP has several quality prospects that could result in 100+ mmboe
discoveries that could each be worth over A$1000m so the success leverage for each discovery is 20 times Central’s A$40-60m market cap.*

....The Company has now a portfolio that gives it a virtual monopoly over more than 170,000km² of wholly owned tenements in some of the world’s last onshore 100 million barrel targets.

The tenements include:-

 100% of Amadeus Basin outside Santos/Magellan production areas ( this
producing basin has exploration rate of only 5% of world average);

 100% of Pedirka Basin tenements (same age and similar geology as nearby
Cooper Basin but is oil prone not gas prone);

 100% of Lander Trough (frontier basin with oil shows but no seismic); and

100% of part of Georgina Basin (18 oil wells with many oil shows but no seismic
carried).

The fund raising will drill at least 6 wells (including two appraisal prospects) with max depth of only 2000m targeting 300 MMbls oil, 3,400 BCFG and 100 BCF Helium on targets as follows:

....The two Pedirka wells will be drilled from March 2006, followed by the Johnstone well in the Amadeus Basin. Significant seismic will be undertaken over other targets in all basins.


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## YOUNG_TRADER (10 March 2006)

Hmmm I remember that this one struggled to get funds for IPO, 

Will put in watchlist, thanks


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## idribble (10 March 2006)

a further snippett from Martin Place Securities

CTP has 100% of several permits covering most of the rest of the Amadeus
and has an initial well-defined 100mmbbl oil target at Johnstone and two
appraisal wells following up previous gas flows from the 1960s. Onshore
targets of this size are now very rare around the world.


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## idribble (11 March 2006)

A little history that may explain the early endeavours of Merlin Petroleum / Central Petroleum .............. from PESA website

Central Petroleum Bets All On NT Basins 
In the past 12 months, Central Petroleum Limited (formerly Merlin Petroleum) has undergone major changes in the last year. In addition to the name change, made to reflect the company’s area of focus, there have been changes to the board. New board members include Chairman Dr Henry Askin, who was exploration manager for Shell Development (Australia) from 1990 to 1997 and also headed the Shell International seismic analysis unit in the Hague for three years, as well as Bill Dunmore, a production-based reservoir engineering specialist who has spent a considerable time as a consultant to banks in merger and acquisition analysis.

The company has also pulled out of all of the farm-in deals it had in the Cooper Basin. “We spent a lot of money in attempting to list the combined farm-in deals that we had last year in the Pedirka and Cooper basins as Merlin [Petroleum]”, said Mr Heugh adding they were stymied due to timing issues centred around the farmin deals as well as the London market as a dual listing was attempted. “We felt that we could do better and have negotiated a package deal over practically the entire Amadeus Basin, which surrounds the producing Palm Valley and Mereenie fields … once Australia’s biggest onshore mainland reserves. Subject to the listing of the company, we will be acquiring the whole of the issued shares of two other companies that have the rights over about 85% of the Amadeus Basin, so we’re picking up a package, subject to listing, of about 80,000 km² with two appraisal prospects which have been previously drilled and returned gas to surface as well as a large number of other prospects and leads including the Johnstone oil prospect, targeting Pacoota Sandstone with recoverable numbers of 112 MMbbl upside potential .”

“At this stage we are primarily an exploration company but want to get into production as soon as we can,” he stated about the company’s current acreage, adding that Central is also open to picking up a producing reserve-based asset by acquisition as well as appraisal and exploration. “We would have preferred to have done that before we got to the prospectus stage, but there’s a lot of competition out there for producing assets – they don’t come cheap … With the previous board we were restricted in vision for the acquisition of a reserve-based asset in Australia. They felt that it wasn’t appropriate for the company to get involved in overseas operations, but now with the board we’ve got, although focussed on central Australia, we would no longer restrict ourselves to the Australian scenario if an appropriate reserve based asset became available at the right price.” Mr Heugh said Central would consider acquiring such an asset anywhere in the world provided the price is right and the sovereign risk is low, listing Australia, Europe, North America and Canada as potential areas of interest. 
Central intends to raise enough funds (around $20 million Q3 calendar 2005) to drill no less than six wells over the next two years. The company has a capital raising planned for imminent release, and a strategy to initially drill three large oil prospects to help develop an early cash-flow.


Acreage

Amadeus Basin


”The Amadeus Basin is one of the most underexplored [producing] basins in Australia”, stated Mr Heugh. “On our web site we have a comparison of the Cooper, Surat, Perth, Carnarvon and Amadeus basins, which shows that the Amadeus is second in average success rate for hydrocarbons discovered per exploration wells. The Carnarvon leads with 10 MMboe; the Amadeus follows on 4 MMboe; while the Cooper, Perth and Surat Basins are on 2 MMboe, 2 MMboe and 0.1 MMboe, respectively. Another statistic shows that the average total depth of wells in the Amadeus Basin is 1900 m, which is quite shallow compared to other onshore producing basins.” 

The basin has had three major petroleum field discoveries – the Dingo field, the Mereenie field and the Palm Valley field – while another 13 wells could be regarded as technical successes, but were not optimised due to poor or non-existent seismic.

“The acquisition of the Amadeus Basin acreage gives Central Petroleum access to four already known prospects which the company will spend a fair bit of money reappraising – including Ooraminna, Waterhouse, Johnson and Mount Kitty , formerly known as Murphy South.”

“We see Ooraminna and Waterhouse as basically 1 Tcf upside prospects and we regard them as appraisal prospects because they have returned gas to surface before”, explained Mr Heugh. “They’re not ranked grass root exploration wells to see if there’s something there, and we know there is, it’s a matter of how much and whether it’s commercial.”

“While Ooraminna was last drilled as far back as in 1963, and has thus not seen the benefits of more advanced and modern technologies, what is regarded as Waterhouse’s primary reservoir has not yet been penetrated – suggesting that both prospects might have larger potential than what previous drilling has indicated.”

The Johnston prospect has got an upside potential P10 of more than 100 MMbbl of recoverable oil but, unlike Ooraminna and Waterhouse, hasn’t been drilled before. Mount Kitty has not been drilled before either. The main targets of this prospect are in the Bitter Springs Formation, sealed very effectively by salt, which has been drilled only once before in the basin. The drilling of Magee-1 50-60 km away from the Mount Kitty prospect returned gas to surface with a high nitrogen content and 6.2% Helium. 

“These days, Helium is of course a very valuable commodity on the world stage, it commands a price of US$60-65 per thousand cf versus ordinary sales gas around A$2-3 per thousand cf”, he said. “So if we have a discovery with significant Helium content, it has the potential to add an enormous amount of income to the bottom line of the company.” 

Central is in the final stages of negotiating a Memorandum of Understanding with one of the biggest suppliers of Helium on the world stage, BOC International, who recently commissioned the construction of a Helium extraction plant in Darwin. “They’re working with about 0.01% Helium in that gas, were working with 6% in the gas that we hope to find in the Amadeus Basin.”

Pedirka Basin

The other two oil prospects of the three (Johnston is the other) Central Petroleum plans to drill as early as possible, are located in the Pedirka Basin. These prospects are Avalon and Blamore, which are to be drilled back to back. “Existing data has been reprocessed with the assistance of Dr Askin who has identified abundant possible DHIs (direct hydrocarbon indicators). If any of the wells are discoveries we can monetise very quickly by trucking oil across to Alice Springs and then railing it up to Darwin”, explained Mr Heugh. “Avalon and Blamore have been assessed independently as having upside P10 potential recoverable numbers of over 200 MMbbl, so are a priority for the company. 


Gas


Although monetising gas in central Australia could be difficult due to a lack of markets, one option could be to take over after Santos and Magellan (the Palm Valley and Mereenie prospect partners who are exporting gas via the Alice to Darwin pipeline) run out of gas. “They’ve got enough gas to supply the current contract until about 2009”, he said. “There are limited amounts of gas drilled reserves in the Amadeus that they can tap into and, subject to listing, shortly Central will control all of the most prospective Amadeus Basin acreage … subject to the listing we’ll acquire about 80-90% of the total acreage in the Amadeus Basin, so there’s no other gas exploration of real substance that Santos and Magellan can move into.” However, this could be as late as 2009 or 2010 and by then some of the offshore discoveries might have been brought on stream to supply Darwin with sales gas.

Central is therefore considering two approaches. The company could “discover a gas reserve of sufficient size to warrant connecting it to the pipeline to Moomba” – this discovery would have to be in the order of 200 Bcf to justify a connection. The other option outlined in a pre-feasibility study by Holt Campbell and Payton, based upon notional gas discovery and conversion by GTL (gas to liquids technology) into syn-fuel of two main types: Low sulphur, low pollution synthetic diesel and jet fuel; with naphtha as a co-product. “All three products could be produced in situ in the Amadeus Basin or anywhere in central Australia close to a rail facility and railed out to either Darwin or Adelaide”, explained Mr Heugh. “Our independent report on this indicates that probably most, if not all, of that product would be absorbed by the domestic market, particularly now that Australia is forecast to be only 40% self-sufficient in oil by the year 2010.” 

“There have been a lot of developments in GTL technology and there’s a huge demand for low sulphur diesel throughout the world … and this trend is coming here.” This particular type of diesel is very environmentally friendly and can be mixed with conventional diesel to make reduce pollution at an economical price: “About 20% of syn-fuel diesel will get you inside all of the environmental legislatios that are planned until at least the year 2010. We think that is a very positive development.” Central has also lodged a provisional patent application for the novel application of GTL in central Australia on specific gas reserves.


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## idribble (11 March 2006)

and the second half of the text which I couldn't fit in before .....

Seismic


The existing data for the Pedirka and Amadeus Basins was reprocessed and re-mapped by Troy Ikoda, and Young Geoconsultants. Dr Askin has examined some of the data in detail for DHIs. Approximately 150 to 200 km of seismic was reprocessed over Avalon and Blamore, whereas all the available seismic in the Amadeus Basin was reprocessed in two stages – the first stage was undertaken by the NTGS) as part of an initiative by Young Geoconsultants. “Then we asked Young Geoconsultants to take those results and remap the four prospects that we’re interested in”, he said. “In fact, they remapped half a dozen prospects that we brought down to four prospects that we wanted to drill in the Amadeus.” 

In addition to reprocessing existing data, the company wants to acquire additional seismic over the Amadeus acreage. “One of the keys to success in the Amadeus is fracture prediction, so we need more accurate data over the four prospects we’d like to drill”, he explained”, not only to be able to identify the biggest concentration of fractures in the structures, but also because of the enormity of the structures – Mount Kitty is 500 km² of potential closure, Ooraminna and Waterhouse are up to 300 km² and Johnston is 180 km². 

“Whereas our Amadeus Basin acreage requires additional seismic before deciding where to drill, in the case of the Avalon and Blamore prospects in the Pedirka Basin, we believe we are ready to drill.” Central is hoping to drill all three oil prospects before July/August next year: “By then we also hope to be gathering more seismic over some of the larger gas prospects in the Amadeus Basin.”


Joint Ventures


Central Petroleum has entered into a Joint Venture with White Sands Petroleum which Mr Heugh said would give the company access to their high-tech, highly mobile hydraulic top-drive rig, in return for an interest in the permit. ”It is capable of drilling to depths of over 3000 m and only takes about 12 truckloads of equipment to get in and set up, thereby saving money on mobilisation and de-mobilisation. The rig also only requires about half the crew of a conventional rig. Of course, the main advantage is … the ability to access a drilling rig at all, which is becoming increasingly difficult”, stated Mr Heugh. 

Central was at one stage considering perhaps acquiring a rig of its own, but will continue with the White Sands deal as long as it works to the company’s satisfaction. “These are the sorts of deals we want to do to give us some sort of strategic advantage rather than just simply saving money on exploration, which is good, but it’s not the only reason why we want to do a farm-out deal”.

Under the terms of the farm-out deal White Sands will fund 22.5% of the costs of drilling two wells in EP93 (Avalon and Blamore) to win a 15% interest in the permit, as well as funding 22.5% of one well in EP92 and PLA77 to win 15% of the permits.

Central also has a letter of agreement with Perth-based Terrex Seismic Pty Ltd, who will have a crew available for the company in March or April 2006. “The Alice Springs-based environmental consulting group (Low Consultants ) that know the area and the local people very well, something which is beneficial when it comes to remote acreage such as this will be available around September or October of this year to do the reconnaissance environmental survey”, he said. 

Timing is everything

The paper Petroleum Resource Potential of the Amadeus Basin by John Warburton, Titus Murray and Torey Marshall will be presented at the Central Australian Basins Symposium in Alice Springs, August 16th – 18th. “So it’s good timing for us”, claimed Mr Heugh. “It’s certainly going to open a lot of people’s eyes about the Amadeus Basin.”

Central Petroleum has to list by a certain date to acquire the acreage in the Amadeus Basin. In addition to the Amadeus acreage, the company also has two applications in the Lander Trough, one in the Georgina Basin and three in the Pedirka Basin, one of which has been granted. Each of the permits has an individual work program, which increases in expenditure from $100-150,000 in the first year to perhaps 
$400-500,000 in the second year, and is a contingent commitment. 

“If all the permits are granted at the same time on the day of a succesful float, we have enough money to enable us to evaluate data, drill those six wells and acquire additional seismic.” 

Central would then make the decisions on which permits to keep, which to farm out and perhaps which to get rid of. “The first two years of activity will be a major screening process for us to delineate whre we’re likely to have the most success and to bring in other joint venture partners.”


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## TjamesX (14 March 2006)

Dodgy

I wouldn't touch....

There's a reason they struggled to raise money


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## idribble (14 March 2006)

If you know the reason TjamesX ..... then I'm all ears.

I'm not immune to being wrong and bailing out, so any knowledge would be appreciated.


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## jemma (28 May 2006)

I just bought in here, IMO cannot lose at low levels like this.

Drilling due in June/July as per their ann.

Massive upside potential, worth a bet!!


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## GreatPig (28 May 2006)

jemma said:
			
		

> IMO cannot lose at low levels like this.



IMO famous last words 

GP


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## yogi-in-oz (28 May 2006)

Hi folks,

As requested, here's some astroanalysis for CTP..... 

This first part was posted earlier, on 06 March 2006,
in the AussieOilers forum:


=====

Up front, no advice here ..... 

CTP ... let's put this into some historical perspective.

These are the same guys, who promoted the FAILED Merlin
Petroleum float, during the hottest oil market for 30 years!~!

Looking ahead, it may be pumped up initially, with some
good news expected through April 2006, but around 19052006
we may see a high, with some particularly NEGATIVE news
surfacing around that time .....

=====

..... and so CTP has by and large traded, as expected to date.

Technically, it would be good to see CTP make a
confirmed bottom, around 8.5 - 9 cents.

So, let's look a little further out, at more
anticipated key dates for CTP:

30-31052006 ..... minor 

     02062006 ..... significant and positive news???

     19062006 ..... positive spotlight on CTP

     22062006 ..... negative and finance-related???

23-26062006 ..... minor news of difficulties here???

     14072006 ..... news of changes (board???) here.

     17072006 ..... positive and finance-related???

 11-24072006 ..... underlying cycle, addressing long-term
                          changes for CTP???

 18-20072006 ..... 2 significant and negative cycles here???

     27072006 ..... minor and negative cycle here.

 09-11082006 ..... significant financial news and changes,
                          with 2 difficult cycles here.

      21082006 ..... negative spotlight on CTP

 25-28082006 ..... significant and negative news???

 04-05092006 ..... 2 significant cycles ... difficulties
                          with finances???

     11092006 ..... minor news

     20092006 ..... minor cycle.

     28092006 ..... minor and finance-related???

 2909-02102006 ..... signifcant and positive news???

    20-23102006 ..... 3 significant and positive cycles bring
                             a strong rally ... finance-related                                                         ???


 10-21 November 2006 - an extremely negative period ???

        15112006 ..... significant and negative ... finances??

        20112006 ..... negative spotlight on CTP

    01-04122006 ..... significant and negative move.

         06122006 ..... significant and negative news???

    08-11122006 ..... minor and positive.

        20122006 ..... CTP in a positive light here???

        28122006 ..... minor and positive news to end 2006 ???

-----

Let's hope that this analysis is wrong ... and it could
well be so .... but, the promotion on many forums of this
ipo, by the seed capitalists could well be seen as ramping,
given their track record in the past, with the failed
Merlin ipo.

happy days

yogi

P.S. ... this is NOT advice, but pure speculation and
discussion about a stock, that would seem to have 
little going for it, except some potential as a cyclical
trading stock ..... 



=====


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## jemma (28 May 2006)

Yogi,

Many thanks for such a quick reply.

Hmmmmm, there must be news of a rig booked into drilling, that must be the positive, but not much else it seems. Thanks again.


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## yogi-in-oz (5 October 2006)

Hi folks,

..... you have every right to be annoyed with
CTP management, but it really is no 
surprise, as this is the same outfit that 
failed with their Merlin float, in the hottest 
market for oil stocks for 30 years ..... now 
you can appreciate why people were really
reluctant to hand over their money to these
wowsers.

And it will be no different, when their 
"aide-de-campe" in Merlin scrapes up
enough cash for the NTO float ..... yes,
there will be an initial flurry of interest,
just like CTP, but come mid-Feb 2007, NTO
will also come unstuck ..... big-time ...!~! 

So, beware of all this ramping by their 
apostles, NTO will have its parallels with
CTP ... difference being CTP is going to
be hit hard, in November 2006 ... and while
they may theoretically be worth 10 cents 
right now, any payment towards another rig 
was not in the budget, so you may well 
see your 5 cent target.

Some analysis can be found in the post above on 28052006,
but briefly, CTP will have us looking for a serious slide:

  10-15112006 ... big downmove???

      20112006 ...  negative spotlight on CTP

  01-04122006 ... sharp downmove???

       06122006 ... more negative news       

   08-11122006 ... minor and positive = low?

CTP may then improve somewhat, 
in December 2006 and January 2007 ... ???

..... then, if NTO gets started at all, their 
reckoning will come with some long-term
changes in February 2007, when they are 
in considerable pain ... lol ... 

Thank God for true justice ... !~!

happy days

  yogi


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## Geomean (5 October 2006)

White Sands Petroleum Farmin Agreement Terminated
Yesterday Central Petroleum Limited filed an announcement in which it "advises that the Heads of Agreement relating to a White Sands Petroleum Limited farmin to Merlin Energy’s permits EPA92, PELA 77 and EP 93 has been terminated for reasons including uncertainties associated with the availability of the White Sands Petroleum Limited drilling rig".   

http://www.aspecthuntley.com.au/doc...uY2UueWFob28uY29tL2FjYS9kZWxheWVkP3M9Q1RQLkFY


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## jemma (5 October 2006)

I was lucky enough to dump these at 13 cents and get my money back.

What a dog of a stock.


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## mpv (29 November 2006)

Just announced mou for farm in with a newly formed company.
Targetting for helium.


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## Geomean (24 April 2007)

*Re: CTP - Central Petroleum--Notes on 1Q07 3B Quarterly Report*

This is a company that commissions one study-- then another study.  This quarter we have a report on CBM and a report on GTL.  

I wish they would keep their eye on the ball.  

They are talking about building the biggest GTL facility on planet earth, and they haven't found an ounce of hydrocarbons.

I'd like a report of a rig in the field.  I'd like a report of a spud.

The latest quarterly report notes:
"Tenders for the drilling of Blamore #1 with an option to drill Avalon #1 back to back have been suspended pending a decision on the access route."

Cash is down to around 5MM.

They now look like they don't have enough cash to drill two wells. Aargh!

The dilution that is going on is incredible.  Today's form 3B filed with the ASX for the period ending 3/30/07 reflects 139MM shares outstanding, and 68MM of unattached options to purchase @ $0.20 to $0.25. This is up from 78.2 MM shares outstanding, and 38.3MM [free] unattached options to purchase @ $0.20 in March 06. 

In other words, fully diluted shares went from 116.3MM to 207MM shares!! WOW!!  And I can find no explanation or value received for this kind of dilution.

In addition, CTP farmed out 25% of its top helium prospects to He Nuclear Limited whereby He Nuclear can earn 25% of the EP125 Mt Kitty Prospect Block and the EP82 Magee Prospect Block. The terms of the agreement include He Nuclear funding 50% of pre-drilling seismic and the drilling of a well on each Prospect Block to earn a 25% participating interest in each of the blocks.  

While the geological work on file is extensive, this is no way to get a junior up and running.  More dilution or reductions in their mineral interests appear likely.


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## Geomean (19 May 2007)

Yesterday's announcement regarding operations was most distressing.  

They don't have access to the drill site.

They have sought Federal help, so apparently there is an impass.

They say that they are talking to farm in partners

If there is another farm in, then the asset base will be further diluted

They say that they are talking about raising more capital.

Even more dilution.

The initial offering buyers are so underwater and more is to come.

They've suspended trying to get a rig, because they can't get the rig there.

The news is just terrible.

I don't care how many geology and other studies they carry out.

What matters is getting things done.

They still aren't close, and now cash has been drawn down to the point that they won't be able to drill more than one well.  

OUCH!


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## YOUNG_TRADER (19 May 2007)

YOUNG_TRADER said:


> Hmmm I remember that this one struggled to get funds for IPO,
> 
> Will put in watchlist, thanks




They were knocked back by Pato's and Haartleys from memory when they went to do IPO, Martin Place picked up the slack.

Martin Place have a great track record of pulling rabbits out of the hat, but given they were kb'd by 2 good brokers I always just watched CTP


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## ongchuan (3 August 2007)

Anyone checking this out? It was mentioned in the MSN Bulletin and MiningNews Net. What do you guys think bout this? Got lots of tenements for drilling. Any potential??


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## moneymajix (30 August 2007)

Gasbagging with confidence

Tuesday, July 31, 2007

We've passed the 100% gain mark for the year - and we could be on to a gusher with our decision to buy into Australia's best gas-for-oil prospect.
Last week's market shakeout delivered a great opportunity to buy Central Petroleum Ltd (ASX code: CTP) ahead of a roadshow beginning in Sydney this week to talk up the stock to potential investors. 


Central has a top-rated board and is the biggest onshore hydrocarbons tenement holder in Australia. Its prospective ground totals 230,000sq km covering the Amadeus and Pedirka basins, which straddle the southern part of the Northern Territory from the Queensland border into Western Australia.



So far, 200 drilling targets have been identified, but for decades this vast region has been sparsely explored because there was no viable gas reserves market. That is about to change with record high oil prices likely to open the way for a gas-to-liquids (GTL) conversion plant to transform the commercial potential of the region.

It's expected the company needs to raise $10m over the next 12 months to drill up to six wells on targets with a hopeful upside of 300 million barrels of recoverable oil to establish an early cashflow. That's why managing director John Heugh is doing the rounds in Sydney this week with the support of enthusiastic stockbroking backer Martin Place Securities.

Heugh is a petroleum geologist previously with Santos, Ampolex, WMC and Kufpec. Chairman Dr Henry Askin is a geophysicist and former Shell Australia exploration director and Shell global seismic manager. Other directors are Bill Dunmore (a reservoir engineer turned banker with HBOS, Rothschild, Dresdner Kleinwort, Unocal and BHP) and accountant-company secretary Richard Faull.

Central Petroleum listed on the ASX in March, 2006, having started putting together its land package in 1998, when oil was $US12 a barrel and there was no competition for the remote area. Its tenements surround the Santos-Magellan-operated Mereenie oilfield and their declining Palm Valley gasfield. Those companies hold zero exploration acreage in the area.

Central's tenements are assessed as having potential to yield more than 6 billion barrels of oil equivalent. If this is proved, a pre-feasibility study suggests a 140,000bls per day GTL plant could operate for 50 years with a projected break-even at $US30 a barrel, less than half current prices.

At 20.5c Central carries a market capitalisation of $31.4m and has $5.5m in remaining cash after spending nearly $3m on recent seismic surveys. If its projections stack up, it should have no trouble attracting majors to farm-in.


From The Speculator in The Bulletin.


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## moneymajix (30 August 2007)

Ann. 28 August

Another tenement added...

Formal Grant of Exploration Permit EP 115 Northern Territory 
Central Petroleum Limited (“CTP”) is pleased to announce that the Minister of the Department of Industry, Fisheries and Mining of the Northern Territory has granted Frontier Oil and Gas Pty Ltd, a CTP subsidiary, Exploration Permit EP 115 of 169 whole or partial graticular blocks totalling some 13,000 square kilometres. 

The permit hosts the Johnstone oil prospect assessed as having potential to host up to 112 MMbbls of recoverable oil in a three way dip and one way fault terminated closure in the main Ordovician Stairway and Pacoota Sandstone target horizons at depths less than 1,800 m. Secondary targets include the older Neo-proterozoic Pioneer Sandstone (Aralka Petroleum System) and the Heavitree Sandstone. 

Central has planned a 200 line km seismic acquisition programme to provide additional pre-drilling information over the Johnstone, Surprise and Stuart oil prospects in EP 115.


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## moneymajix (30 August 2007)

For those interested.

A little time ago on 13 August, Boardroom Radio interview.


CTP - Planned Farmin for EP97 Pedirka Basin - Mr John Heugh, MD 


http://www.brr.com.au/event/CTP/1924/27168s month


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## moneymajix (13 September 2007)

WallStreet Reporter interview with the MD on 6 September

http://www.wallstreetreporter.com/page.php?page=featured&id=26147


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## moneymajix (18 September 2007)

More from the Speculator in the Bulletin 

http://bulletin.ninemsn.com.au/article.aspx?id=296540


20c


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## robjb5 (10 December 2007)

Todays ann. indicates that CTP is set to commence a possible 10 well program from approx.the beginning of march 2008..This is the most positive ann. since listing almost 2 yrs. ago..Coupled with the recent hiring of a Drilling Superintendent shows that steady progress is being made towards first spud in.The funding proposals to be voted upon at the GM (21/12/2007), if approved, will provide for the access of up to $80 mill...That should more than cover the costs involved of the proposed programme..It has been a slow, but steady, progress from listing to todays announcement.The size of the acreage involved and the almost unexplored status of most of that ground plus the positive shows from the very few wells drilled to date, give rise to a sense of inevitability, that this will indeed be a historically successful exploration programme..Interesting times indeed for the Australian energy sector..


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## Trader Paul (24 December 2007)

robjb5 said:


> Todays ann. indicates that CTP is set to commence a possible 10 well program from approx.the beginning of march 2008..This is the most positive ann. since listing almost 2 yrs. ago..Coupled with the recent hiring of a Drilling Superintendent shows that steady progress is being made towards first spud in.The funding proposals to be voted upon at the GM (21/12/2007), if approved, will provide for the access of up to $80 mill...That should more than cover the costs involved of the proposed programme..It has been a slow, but steady, progress from listing to todays announcement.The size of the acreage involved and the almost unexplored status of most of that ground plus the positive shows from the very few wells drilled to date, give rise to a sense of inevitability, that this will indeed be a historically successful exploration programme..Interesting times indeed for the Australian energy sector..






Hi folks,

..... maybe robjb5 needs to declare his true interest in CTP ... !~! ..... 

have a great day

 paul



=====


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## Trader Paul (24 December 2007)

Hi folks,


Short-term CTP astroanalysis:

     07-09012008 ... 2 cycles ... minor news

     15-18022008 ... 3 cycles ... positive spotlight on CTP ... 
                                  ... long-term finance-related changes???

     22-26022008 ... another positive cycle expected ... 25022008???


... and here's some analysis for your daily planner ...

CTP should be booming in 2009, especially around:

16022009 ... 06032009 ... 12032009 ... 19052009 ... 28052009 and then

..... 12-19062009 (big spike) and again 04-08012010 (big spike)

happy days

paul

P.S. ... don't think that this company is being managed
         well, but have also learned NOT to go against
         God's natural time cycles ... 




=====


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## robjb5 (24 December 2007)

You can't hide,The Empire will always find you!! So when will we all have the benefit of your masterplan so that we can all hear the clarion call as you lead us out of morass of misplanning and perhaps you could consider it an enlightening Christmas Gift--"How to manage an emerging Explorer/Producer to first production!!" by Yogi Wildcat...????


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## Trader Paul (15 February 2008)

Trader Paul said:


> Hi folks,
> 
> 
> Short-term CTP astroanalysis:
> ...






Hi folks,

CTP ... as per post above, more news comes in and right on TIME, today:

..... that's 2/2 ... !~!

5:05 pm	Further supply and service procurement 2008 CTP Programme

5:16 pm	Major Farmout Agreement Executed PXA

..... and now for the hatrick, around 25022008 ... 

have a great weekend 

    paul



=====


----------



## robs12 (3 April 2008)

Leaving aside the T-leaves, these guys are about to spud. Surprised there has not been more interest here?
Anyone know anything about the MOU that just got binned - doesn't look like it had any impact on anything?


----------



## robs12 (4 April 2008)

Nice rise today & on decent volume too....might I have timed it right for once?
It looks to me like they are serious to poke a few holes in the near future.


----------



## robs12 (10 April 2008)

A nice rise over the last few days (with good reason) & a write up in the Australian today. Just signed a contract with Hunt to drill multiple wells this year. DYOR etc. Looks like I'm talking to myself here?


----------



## ColB (22 May 2008)

Hey Robs12,  The following extract came in my email today.  Thought you'd be interested! (You're not talking to yourself).  Article came in after market closed so will be interesting to see impact tomorrow.  CTP closed with 116 buyers for 3.5 million shares and 72 Sellers for 2.5 million shares.  I'll be keeping a close eye on it.  Regards CB

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

"......TONIGHT’S EMAIL IS SPONSORED BY CENTRAL PETROLEUM LIMITED, an oil and gas explorer that controls one of the biggest packages of prospective oil and gas acreage in Australia, including areas within Basins such as the Amadeus, the Pedirka, the Lander Trough and parts of the Georgina Basin, representing some of the least explored prospective basins in the world.

Central Petroleum’s Managing Director Mr. John Heugh informed the Australian Investor of the company’s upcoming drilling programs.

“Central Petroleum will be commencing a drilling program on the Blamore prospectg within the Perdirka Basin by late May or early June 2008 which is addressing 70 million barrels of prospective oil resources in addition to our Simpson project which has up to 190 million barrels of oil in place. The Company is embarking on a hugely significant period of exploration.” Mr. Heugh explained.

If you are interested to learn more of Central Petroleum’s upcoming drilling schedules, click here: http://www.centralpetroleum.com.au/...."


----------



## YOUNG_TRADER (23 May 2008)

CTP has just announced a 2000 M illion Barrel field target in Aust


Thats 2Billion Barrels,

I think the mkt is yet to catch on to this 


DYOR


----------



## hsv2001 (23 May 2008)

hey young_trader, what affect can this ann possibly have if the market catches on? does it have potential to come close to INP ?


----------



## doctorj (23 May 2008)

YOUNG_TRADER said:


> CTP has just announced a 2000 M illion Barrel field target in Aust



2 billion barrels OIP "based on seismic mapping from the early 1990's which in turn was based on data acquired from the 1970's and the 1980's".

Can't blame the market for not caring too much - 2d seismic shot in the earliest case nearly 2 decades ago that has identified a structure large enough to contain that much oil using the most optimistic of assumptions.

Nothing to see here, move along!


----------



## YOUNG_TRADER (23 May 2008)

I have no idea HSV,

It must be stressed that this is a target only and thus is speculative, 

that being said I will offer the following examples

NDO 11M bl field Sp 24c -48cc now 55c

KIK 2Billion Barrel Oil Field 16c-25c now 28c

MXR target 3Billion tonnes Fe Sp 13c - 33c back to 20c

and who could forget EPS 1Bt Fe target 20c-80c now 35c

The point is although they are targets the mkt is captivated by such ann's at the moment and as such this could go for a similar run

Please DYOR as its Spec


----------



## hsv2001 (23 May 2008)

well not bad so far, up about 10 - 12 percent since you posted , i'm just wondering, the trading basis of CTP is NR XE, obviously i know what NR but what does XE represent ?

marc


----------



## Gangis (23 May 2008)

Young Trader

Im not familiar with your examples, NDO, KIK and MXR, with the figures you posted - are those targets for the company or have already made those finda and moving into production. I am not familiar with oil figures (i mostly stick with gas and gold) but i would have thought a target of 2billion barrels would generate more interest.

I understand the figures are targets (and ive seen many fail in reaching expectations) but what sort of sp is expected with proven find of 50mil barrels, 500 mil barrels etc. 

Any direction or explaination would be great.


----------



## YOUNG_TRADER (23 May 2008)

This is a target, nothing more nothing less a *target* its not a resource, its not a proven field its not in prouction, its a target

That being said its an absolutely huge target, 2 Billion Barrels is monstrous, however I'm not sure what sort of confidence interval you can attach to it,

Whats good is that they are about to commence a multi well drilling program soon,


All that aside have no mistake todays volume was huge and suggest that alot of traders have gotten on board, how high can it go? who knows the close was certainly very positive as it set a new high for today

I'm not going to bother putting a valuation or anything on this, its a spec stock with an enromous target key word target

Thats all from me

Cheers


----------



## hsv2001 (23 May 2008)

the market seemed to really like this just before close, if you look at the market depth, the buyers highly outweigh the sellers, with only approx 700000 sellers ranging from 25c to 72c, i believe we are in for an interesting trading day on monday. let's hope anyways

marc


----------



## Gangis (23 May 2008)

Thanks Young Trader.

I realise CTP's ann was in relation to a potential target they have, however are prices of KIK and MXR based on targets they have or finds thaey have officially made.

I know you can not give exmaples for ctp as nothing has been found. Im just trying to comprehend what sought of return there is based on finds of 10mil, 100mil barrels etc.

I am happy to do the research if you (or anyone else) can point out any other oil companys that have made drilled and found 10mil+ barrels. (the small cap comapnys if possible)

Im trying to get a context for the oil industry as i can not value the stock or its potential.

Thanks for your help


----------



## doctorj (23 May 2008)

YOUNG_TRADER said:


> That being said its an absolutely huge target, 2 Billion Barrels is monstrous, however I'm not sure what sort of confidence interval you can attach to it



I'd say there is an extremely low probability there is anywhere near that much there - without more detail (and more skills on my behalf), it's impossible to say, but my feeling is the probability of there being oil bearing structures there amounting to that much would be around 1-2.5%.

What they've done is interpretted old data and discovered targets amounting to that much potential size.  It's a pipe dream created using the most optimistic of assumptions.

They're years, millions of dollars in drilling and truck load of luck away from getting anything near this 'target'.


----------



## Jumbalumba (23 May 2008)

Say there is 1% chance. That would be an expected value of 20million barrels (for the Pedirka Basin only) . I do believe CTP is still undervalued given this low expectation.


----------



## robs12 (23 May 2008)

And there I was thinking I was talking to myself...hello all. Glad to see someone's taken notice. Some way to go here & potential is huge, but the newsflow should be high over the coming weeks/months.


----------



## countryboy (23 May 2008)

I have to say that recently we are seeing the rise of numerous announcements which state they are targeting Blah,Blah,blah billion of whatever. It helped me recently with MXR(I made heaps) 

CTP could ann they are targeting oil fields twice the size of Saudi Arabia but the real chances of this are on a par with winning Lotto.

I believe we need guidance in this area from regulators...ha fat chance !


----------



## copper_hot (25 May 2008)

Pretty good article from the Australian April 10. Could get more attention with some more press this week following from the announcement friday:



> A MONTH ago, the prevailing view on this central Australian oil and gas pioneer was that it was hiding its light under a mulga bush. But be assured that's no longer the case, thanks to A Current Affair.
> 
> In one of those shameless cross-promotion exercises (for PBL Media's Money magazine), the fearless exposer of dodgy realtors endorsed Central as one of three picks from veteran stock watcher David Hazelhurst.
> 
> ...


----------



## YOUNG_TRADER (26 May 2008)

YOUNG_TRADER said:


> CTP has just announced a 2000 M illion Barrel field target in Aust
> 
> 
> Thats 2Billion Barrels,
> ...






YOUNG_TRADER said:


> I have no idea HSV,
> 
> It must be stressed that this is a target only and thus is speculative,
> 
> ...




Well this played out to a tee, mkt missed the ann when it was 20c when I first posted and like other "ramped" stocks with multi billion tonne Iron ore or in this case Oil targets it went for a run

I sold all today and made a very nice profit (40%-50% in 1 day is nothing to scoff at)

Now lets wait for the next stock to do this kinda ann and all get on board early


----------



## strayda11 (26 May 2008)

I took half shortly after open- holding half as I still think it may have some way to go. Still huge volume. What are your thoughts?


----------



## Max_ob (26 May 2008)

hey YT


does this mean that you feel ctp hasn't got what it takes to keep going higher?


i must be the sucker that buys after it takes off. . . . i have been watching since 16c myself and was too foolish not to jump in then and now jump in 10c higher. . . as i thought it actually has got potential. . .


----------



## YOUNG_TRADER (26 May 2008)

Hey Max, if you read my post I said clearly at 20c the mkt has missed the ann and that the stock could go for a run

It opened up today at 29.5c so it clearly did go for a run of almost 50%, 


The volume today shows that now lots of traders are on board, it could do anything, I am surprised at the volumes, I will look to buy back, but you must treat this for waht it is a spec oiler with a target, a very very large target


----------



## TheAbyss (26 May 2008)

Max_ob said:


> hey YT
> 
> 
> does this mean that you feel ctp hasn't got what it takes to keep going higher?
> ...




The text in the release on the 23rd May should have waved a great big danger sign to all. Any company who places a throw away line such as the below is on an obvious fishing expedition in my opinion and just looking to fan the fires of market sentiment.

Mobilization of Hunt Rig 2 to commence Central’s 2008 drilling programme is
poised to start shortly with the planned sequence of the Blamore 1 well
*followed by a Coal Bed Methane well (CBM) or two *and then the Simpson 1
well in the Pedirka Basin. An update of timing will be released shortly.last


----------



## Max_ob (26 May 2008)

thanks for the comments YT and TA. . . 


still way too much of a virgin trader. . . . but learning. . . albeit very slowly


----------



## YOUNG_TRADER (26 May 2008)

Hey Max,

After your post I had to re-read mu original posts to make sure I had not given the wrong impression or anything, I hope I made it clear that at 20c the stock presented a potential run up just like others had done on the back of such ann's and I think I did

Kinda like CVI which I bought because I thought based on the ann it released about $1B of funidng it was worth 26c-26.5c and it did get there so I sold,

CTP is hard to value, the target is huge but its just that a target, the rotary lie detector as they call it will be at work soon with the Balmore and Simpson wells which are targeting 200M bls,

To give you an idea you usually value Oil in the Ground at $20 a barrel, so 200M barrels in the ground would be worth $4Billion, huge numbers I know but remember its just a target,

I expect the stock to be very volatile given the volume as no doubt alot of traders are on board however if they find something none of this will matter as fundamentals will take over

Anyone know when the wells being drilled? all I could find was "soon"


----------



## nyo (27 May 2008)

CTP announcement....Any comments?


ASX ANNOUNCEMENT RELEASED to the ASX DATE: 27/05/08
TO: Manager, Company Announcements ASX Limited
CONTACT: John Heugh +61 8 9474 1444
27/05/08

*Rig Moblisation to Blamore 1 oil well Pedirka Basin
*
*Central Petroleum Limited (CTP-Central) has today decided to begin moblising Hunt Rig No.2 to the Blamore 1 oil well location in the Pedirka Basin on June 5th 2008.* Water is being produced from 3 water well sites to assist in road preparation. Any change to this programme brought about by possible operational exigencies will be promptly notified to the market.

The Pedirka Basin is a recognised prospective province for oil exploration with many similarities to the Cooper Basin. Previous drilling has underscored the presence of three distinct petroleum systems in the Permian, Triassic and Jurassic as well as highlighting the potential for Coal Bed Methane prospective recoverable resources.

The Blamore 1 oil well is to be followed by one or two CBM exploration wells prior to drilling the Simpson 1 well.

Total Undisovered Oil Initially in Place “high” estimate (UOIIP) to be addressed by the Joint Venture with Petroleum Exploration Australia Limited (PXA) in the Pedirka Basin is now over 700 MMbbls in the Blamore, Avalon, Simpson, Bejah and Dune prospects together with assessed prospective recoverable resources (“low” to high” estimate) of 34-70 TCFG in CBM in the shallower coal sections of the Pedirka Basin.

The initial programme planned for 2008 is Blamore 1, and 3 CBM wells, (some of which will also test deeper conventionally reservoired oil and gas potential) and Simpson 1. Seismic has been shot by the Joint Venture with PXA over the Madigan prospect, (EP 97) the Guinevere prospect and the Vivienne prospect (both in EP 93).

Central with Joint Venture partner Petroleum Exploration Australia is farming in to the Simpson, Bejah and Dune prospect blocks in EP 97 held by Rawson Resources Limited. (RAW).

Subject to drilling success and the results of new seismic being mapped, the Joint Venture may determine to keep the drilling rig in the Pedirka to drill additional prospects prior to releasing for the remainder of the 2008 drilling programme inclusive of Mt Kitty 1 and Ooraminna 2 in the
Amadeus Basin.


----------



## Rocket man (27 May 2008)

Guys can anyone please estimate a time frame when DBZ will stop manipulating the price down to get their issue ? as announced drill is mobilising so expect this to move positively once DBZ stop selling


----------



## robjb5 (28 May 2008)

YOUNG_TRADER said:


> Hey Max,
> 
> After your post I had to re-read mu original posts to make sure I had not given the wrong impression or anything, I hope I made it clear that at 20c the stock presented a potential run up just like others had done on the back of such ann's and I think I did
> 
> ...




Mobilisation commences approx.5th.June..Spud-in approx.15th.June.....................................................


----------



## YOUNG_TRADER (6 June 2008)

Hey guys,


I reckon CTP may  go for a run next week

Today they have released a comprehensive report outlining their CBM recoverable resources

_Prospective recoverable resources of CBM in Central’s 7 Pedirka Basin permits and applications now stand at 34, 47 and 70 TCFG at “low”, “best” and “high” estimates according to the reports._

Even the *Low Case 34 TCF is huge*

On top of that they have made the following comment

_Although approximately 14 wells have been drilled in the Pedirka Basin, *many of which have intersected coal*, none of these have attempted to flow test CBM potential as they were intersecting coal at probably non-commercial depths for CBM exploitation. Central aims to drill an initial 3 CBM test wells this year in its 2008 programme as the first ever flow tests of Permian and Triassic coals in the Pedirka Basin which will focus on flow testing coal above a cut off depth of 1,250m. *It is thought that on Central’s permits and application areas, a total of up to 30,000 km² of coal beds up to a cumulative thickness of 60m *may exist above this cut-off depth based on previous drilling and approximately 2,000 line km of seismic._

So how much Coal could they have?



Also they have already completed studies for plants and designs etc etc

_Independent studies by Holt Campbell and Payton Pty Ltd, consulting engineers, concluded in a pre-feasibility study dated February 2007, that a 140,000 bbl/day plant producing ultra-clean diesel, jet fuel and naphtha fueled by such potential CBM resources could be profitable at any
prevailing oil price over USD$30/bbl provided that the gas could be delivered to the plant at Alice Springs at A$2.20/Gj or less. Later updates of the figures provided in this report indicates a *break even oil price of c.USD $40/bbl with gas delivery costs at $2.50/Gj *for such a conceptual plant as engineering costs have risen significantly in step with rising oil prices._

While I don't understand this all 100% given how crazy stocks like MEE and LNC have gone over these Coal Gasification or GTL type operations I see no reason why once the mkt fully diggests CTP's potential it may run


May being the key word


----------



## blehgg (6 June 2008)

YOUNG_TRADER said:


> Hey guys,
> 
> 
> I reckon CTP *may * go for a run next week
> ...




Probably off-track.. my apologies..

I wonder how much influence YT has on the market... This forum is read quite alot, and he is well respected, because he backs his comments with research and his track histroy. Quite interesting following his trades around~ 

Probably a bit off track here YT, but how did you learn the technical side behind analysis? I'm pretty sure I'm still a noob. Did you just read books ~ or is it just years of experience... though YT - young?? how young is young???


----------



## Rocket man (6 June 2008)

All this talk about coal and CBM is a huge bonus .. but these guys are targetting up to 12 billion .. yes BILLION barrels of OIL and drill is mobilising next week.  

lots going on here for CTP and it all should be positive for sp over short term and if they strike oil soon hold on to your hand bags


----------



## bowser (7 June 2008)

YOUNG_TRADER said:


> Hey guys,
> 
> 
> I reckon CTP may  go for a run next week




I think you may be right YT. Friday's close was strong on good volume.

This week should be interesting..........


----------



## gfresh (8 June 2008)

young trader said:
			
		

> Today they have released a comprehensive report outlining their CBM recoverable resources
> 
> Prospective recoverable resources of CBM in Central’s 7 Pedirka Basin permits and applications now stand at 34, 47 and 70 TCFG at “low”, “best” and “high” estimates according to the reports.
> 
> Even the Low Case 34 TCF is huge




Indeed.. Australia as a whole uses approximately 1 TCF of gas a year.. The cashflow from just the CBM from Central could be quite staggering (if proved)


----------



## Jimminy (8 June 2008)

great announcement on Friday....sure should run. Only 600km pipe would be needed to the Moomba hub!!

Everyone needs to read this:

http://www.mpsecurities.com.au/Publications/2008/Great Southern Gas Term Sheet April 2008.pdf

The other company with a farmout relationship with CTP is Rawson Resources (RAW). It also put on 12% on Friday with next to no volume (measley 233,000 shares!). Only 60m shares on issue.

RAW have farmed out CBM rights for EP97 to a non-listed company called Great Southern Gas.  They in turn will own 33% of the co. plus retain a 3% royalty.

The importance you ask? CTP has EP93 as covered in the report. Well....EP97 is right next door as shown in the above link. Should also add Great Southern Gas have farmed for 20% of EP93 (if you don't read the link).

RAW has a mc of $16m...:screwy:

Go the Pedirka Basin!!:dance:


----------



## Datsun Disguise (8 June 2008)

gfresh said:


> Indeed.. Australia as a whole uses approximately 1 TCF of gas a year.. The cashflow from just the CBM from Central could be quite staggering (if proved)




I think it is actually 0.6TCF annually - not to be picky.

sorry can't help being anal...

Everyone loves gas these days!!


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## YOUNG_TRADER (9 June 2008)

Was reading through the last few anns and just realised that on top of the CBM/Coal/Gas stuff which should build momentum for the company as its advanced CTP are about to spud a very large Oil Wild Cat

The Ballmore 1 well should be spudding on Tuesday, with a target of 70M bls of oil, this would be worth some $10Billion in ground or $1.4Billion on a EV basis using $20 barrel

Of course this is just a wild cat and the chances of it coming in are say *1 in 20* or 1 in 10 (being generous) but nevertheless it adds a another positive string to the "BOW" of momentum CTP is building

As I said earlier I am in this stock for a RUN which it may or may not do, however given the developments CTP has in regards to its CBM/Coal/Gas and Oil recently the story is starting to gain favourable fundamentals


----------



## nyo (10 June 2008)

ASX ANNOUNCEMENT RELEASED to the ASX DATE: 090608
TO: Manager, Company Announcements Australian Stock Exchange
Limited
CONTACT: John Heugh +61 8 9474 1444
090608 Full Text of

Independent Reports on Recoverable Prospective Resources Coal Bed Methane (CBM) Pedirka Basin Further Explanation

An announcement made on 060608 referred to appended reports on CBM prospective recoverable resources in Central Petroleum Limited’s (Central) Pedirka Basin Permits and Applications. 

Apparently some shareholders are confused by the reference to appended reports and various communications to the Company make it clear that some shareholders are only reading the first report.

To eliminate any potential confusion, further explanation is warranted.

Appended to the announcement made on 060608 are 3 reports :

# 1. The first refers to CBM prospective recoverable resources on Central’s EP 93, EPA 130 and 131 and PELA 77 of 25, 34 and 51 TCFG at “low”, “best” and “high” estimate.(Mulready Consulting Services Pty Ltd 090307)

# 2. The second report refers to the potential for a CBM fueled large scale GTL plantsubject, inter alia, to the proving of sufficient reserves and other requirements. (Holt, Cambell and Payton Pty Ltd 190207)

# 3. The third report refers to incremental prospective recoverable resources on Central’s EPs 105,106 and 107 giving total combined prospective recoverable resources of CBM on EPs 93, 105,106 and 107 and EPs 130 and 131 and PELA 77 together of 34, 47 and 70 TCFG at “low”, “best”, and “high” estimate in accordance with standard Society of Petroleum Engineers (SPE) classifications. (Mulready Consulting Services Pty Ltd 210607)

TCFG : Trillions of Cubic Feet
EP : Granted Exploration Permit (Northern Territory)
EPA : Exploration Permit Application (Northern Territory)
PELA : Petroleum Exploration Licence Application (South Australia)

The relevant text of the announcement made on 060608 follows in italics for ease of reference and a map is provided showing the area of the Pedirka Basin.

# Although approximately 14 wells have been drilled in the Pedirka Basin, many of which have intersected coal, none of these have attempted to flow test CBM potential as they were intersecting coal at probably non-commercial depths for CBM exploitation. Central aims to drill an initial 3 CBM test wells this year in its 2008 programme as the first ever flow tests of Permian and Triassic coals in the Pedirka Basin which will focus on flow testing coal above a cut off depth of 1,250m.

# It is thought that on Central’s permits and application areas, a total of up to 30,000 km² of coal beds up to a cumulative thickness of 60m may exist above this cut-off depth based on previous drilling and approximately 2,000 line km of seismic. Previous announcements (120307 and 220607) gave summaries of independent reports by Mulready Consulting Services Pty Ltd of the CBM potential of Central’s Pedirka Basin acreage.

# The reports concluded that in addition to the CBM original gas in place (OGIP) prospective resources of 67 TCFG in Central’s Pedirka Basin acreage previously described in an earlier report, there is an additional 25 TCFG in permit applications EPA 105,106 and 107 which were recently acquired by Central.

# Prospective recoverable resources of CBM in Central’s 7 Pedirka Basin permits and applications now stand at 34, 47 and 70 TCFG at “low”, “best” and “high” estimates according to the reports.

Independent studies by Holt Campbell and Payton Pty Ltd, consulting engineers, concluded in a pre-feasibility study dated February 2007, that a 140,000 bbl/day plant producing ultra-clean diesel, jet fuel and naphtha fueled by such potential CBM resources could be profitable at any prevailing oil price over USD$30/bbl provided that the gas could be delivered to the plant at Alice Springs at A$2.20/Gj or less. Later updates of the figures provided in this report indicates a break even oil price of c.USD $40/bbl with gas delivery costs at $2.50/Gj for such a conceptual plant as engineering costs have risen significantly in step with rising oil prices.


Central’s Permits and Applications showing the Pedirka Basin and the proposed location of the first three CBM wells to be flow tested once drilled in the 2008 campaign.

Sincerely
John Heugh
Managing Director
Central Petroleum Limited


----------



## Datsun Disguise (10 June 2008)

This one is giving me butterflies.... the numbers are huge and that should be enough to excite the market as we approach spudding of wells. I see this as a great free carry opportunity. What I mean by that is, buy your stake - ride the building excitement leading up to spud, sell off the value of the initial stake and sit back risk free. If it takes off you always kick yourself for being a wuss - but more often than not you end up taking a profit away from a situation that could have taken part of your cap.

I think also there is one sentence that should not be underestimated regarding the CBM wells. It reads;

_Although approximately 14 wells have been drilled in the Pedirka Basin, many of which have intersected coal, none of these have attempted to flow test CBM potential as *they were intersecting coal at probably non-commercial depths for CBM exploitation*._

So the CBM play is a crack at proving popular theory wrong. If they do then this alone is HUGE. As I said it's giving me butterflies. But it is going against popular opinion.

Then there's the oil. At YT's EV of $20 / $1.4bn that translates to $3.50 a share (mc 400m fully diluted). 

Chart looks decidedly bullish - minor gap open today too. Problem is I don't trust those damned butterflies.


----------



## countryboy (12 June 2008)

volumes remain high but this stock is treading water at 25c range. i was going to blame the Dow for its lack of movement but think something else is happening with this stock...someone happy to sell at around this mark very large volumes??


----------



## TRUST_ME (12 June 2008)

yeah I think this stock is going to get cheaper as people start pushing the emergency button due to the market dropping.

I'm looking to buy in but think it will go much lower in the short term


----------



## redback (12 June 2008)

countryboy said:


> volumes remain high but this stock is treading water at 25c range. i was going to blame the Dow for its lack of movement but think something else is happening with this stock...someone happy to sell at around this mark very large volumes??




It's their bond holders selling, on conversion at 15c they sell out immediately, they held about 6.6million yesterday and have sold 39million previously


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## Pommiegranite (12 June 2008)

I was on this site for the TZL interview, and saw the CTP one on there (not sure how old). Just thought I'd let you know if any of you haven't heard it.

http://www.marketheadquarters.net/


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## redback (12 June 2008)

redback said:


> It's their bond holders selling, on conversion at 15c they sell out immediately, they held about 6.6million yesterday and have sold 39million previously




ps., don't forget about the other 32million shares issued today at 15c from the spp., also the 20% shortfall or about 8million shares yet to be placed also, so  todays shareprice is still at a fair premium, may be best to wait for these to come to market, looks like 22c might be current support


----------



## YOUNG_TRADER (25 June 2008)

wow another one of my stocks to buck the trend of the falling mkts, CTP is moving back towards its highs of 29c-30c

It was a no brainer this would happen with CTP, at say 22c its mkt cap was around $90m with plenty of funding, massive Oil, Gas, CBM, CSG and Coal targets I knew it would


----------



## grace (25 June 2008)

YOUNG_TRADER said:


> wow another one of my stocks to buck the trend of the falling mkts, CTP is moving back towards its highs of 29c-30c
> 
> It was a no brainer this would happen with CTP, at say 22c its mkt cap was around $90m with plenty of funding, massive Oil, Gas, CBM, CSG and Coal targets I knew it would




Holding for this perhaps???



> Central Petroleum confirmed on Monday that the Hunt No 2 rig was scheduled to begin drilling the Blamore 1 well on the Pedirka basin in the south-east corner of the Northern Territory tomorrow (Thursday, June 26).




I don't hold (although I did last year).  CBM (American terminology for CSG)...will be interesting if the coals are of the right type for CSG?? or more to the point, are they highly permeable?  We will soon know.  I follow with interest.


----------



## Wysiwyg (26 June 2008)

As expected the spud date is now 1st. July.Can anyone see the Pedirka Basin being any better than the Cooper?Fat chance.Hard to keep these mobs honest I tell ya.

The estimates below are based on 70`s and 80`s mapping.
This area they reckon has 2 billion barrells of undiscovered  oil initially in place is 450km² or 21 km x 21 km.Again  .



> *Total area* a) and b) is 111,230 or *450 km²*. This area could be increased or decreased subject to the sealing qualities of some associated faulting.
> 
> *Total UOIIP potential for the four leads is 2,098 MMbbls.*
> 
> UOIIP refers to Undiscovered Initial Oil-In- Place "high" estimate of potential filled to spill (SPE definition).




I can smell pork pies in the oven.


----------



## YOUNG_TRADER (26 June 2008)

Wyswig

Couldn't agree with you more, CTP is real spec,

Its in an unexplored Frontier Basin for Oil and Gas and CBM/CSG, I mean this ain't no Copper Basin or NSW/QLD Coast area

But still it does offer that "BLUE SKY" returns that most of us dream of and I think thats whats most appealing to me, but look its not dirt cheap I mean its mkt cap is over $100m and it does have some dodgey convertible bond financing in place and it has been ****e at keeping to its drilling timetable

I haven't be tthe farm on this, just a few chickens, if they pull it off great, if not bah at least I gave it a go

p.s. it is up a lazy 40% since my entry so not fairing too bad and this is the second time I've gotten in


----------



## NickVC (2 July 2008)

Datsun Disguise said:


> This one is giving me butterflies.... the numbers are huge and that should be enough to excite the market as we approach spudding of wells. I see this as a great free carry opportunity. What I mean by that is, buy your stake - ride the building excitement leading up to spud, sell off the value of the initial stake and sit back risk free. If it takes off you always kick yourself for being a wuss - but more often than not you end up taking a profit away from a situation that could have taken part of your cap.
> 
> I think also there is one sentence that should not be underestimated regarding the CBM wells. It reads;
> 
> ...




Are you still in on this one datsun, or did it fall by the wayside like ego  I hold, and am hoping for a bit of a run when it spuds (hopefully tomorrow)


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## gfresh (2 July 2008)

We shall see.. too much expectation, and often it is these with the most expectation that can be the biggest failures!

Wysiwyg, apparently they have done more recent seismic mapping to justify their more recent estimates, but 2bn bbl seems a waste of time to even put it out there.. however even 100mbbl would be.. worth a lot   So they only have to find a fraction of their wild figure and most are going to be pretty happy. If not, nobody will ever trust or respect them ever again and that'll probably be the end of them. We'll see.


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## Wysiwyg (3 July 2008)

Too right gfresh, i`ve been caned and learned the hard way.Recoverable oil estimates could be mentioned in field assessments so these wild `spill point` and gross estimate figures are brought into perspective.
If only to help someone be aware before taking the risk.

Way to go Young Trader, i like oil specs for their s.p. volatility too.



.


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## bhutos (3 July 2008)

Wysiwyg said:


> Too right gfresh, i`ve been caned and learned the hard way.Recoverable oil estimates could be mentioned in field assessments so these wild `spill point` and gross estimate figures are brought into perspective.
> If only to help someone be aware before taking the risk.
> 
> Way to go Young Trader, i like oil specs for their s.p. volatility too.
> ...




You shouldn't have to ring the company for the info, but it seems quite prevalent lately in the specs i've been looking at to just talk spill points and omit P10-P90. Actually even "high medium low" estimates put me slightly on edge by not using the correct terminology.


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## NickVC (6 July 2008)

For the benefit of anyone who still holds this stock, the spud announcement came out after close on Friday.  I'm looking forward to an interest week ahead.


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## Wysiwyg (8 July 2008)

bhutos said:


> You shouldn't have to ring the company for the info, but it seems quite prevalent lately in the specs i've been looking at to just talk spill points and omit P10-P90. Actually even "high medium low" estimates put me slightly on edge by not using the correct terminology.




Yet to prove any oil exists though there have been a few wells drilled in the location.The difference between undiscovered oil, proving it`s there and then what amount is recoverable needs to be understood so one doesn`t get burned by the numbers.
A high risk wildcat.


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## seden33 (8 July 2008)

from their asx release  http://imagesignal.comsec.com.au/asxdata/20080502/pdf/00839002.pdf
6) A Poolowanna pinchout edge occurs on the Andado Shelf (possibly a stratigraphic play of regional significance) at shot point 2098 (Figure-1) where top Poolowanna Formation Cycle 1 shales (seal) overlap prospective Poolowanna sandstones at the base of cycle-1. These form the reservoir in the Poolowanna-1 oil pool which recorded significant oil recoveries of 38 deg. API oil when drilled by Delhi Petroleum in 1977. It is thought that the Poolowanna structure was breached by Miocene faulting which is not apparently a feature of the Blamore prospect nor the leads on line CB08-01.

 theres definantly oil in the area


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## NickVC (14 July 2008)

seden33 said:


> from their asx release  http://imagesignal.comsec.com.au/asxdata/20080502/pdf/00839002.pdf
> 6) A Poolowanna pinchout edge occurs on the Andado Shelf (possibly a stratigraphic play of regional significance) at shot point 2098 (Figure-1) where top Poolowanna Formation Cycle 1 shales (seal) overlap prospective Poolowanna sandstones at the base of cycle-1. These form the reservoir in the Poolowanna-1 oil pool which recorded significant oil recoveries of 38 deg. API oil when drilled by Delhi Petroleum in 1977. It is thought that the Poolowanna structure was breached by Miocene faulting which is not apparently a feature of the Blamore prospect nor the leads on line CB08-01.
> 
> theres definantly oil in the area




Based on the announcement today, there definitely was (and perhaps still is) oil where they are drilling.  The below are extracts from part of the announcement.  It looks like oil may have disappeared from their secondary target, but hopefully (I hold) it has remained in the reservoirs in the secondary targets.  They are very close to the Poolowanna Formation, so we may see an announcement regarding whether there is oil in that formation tomorrow.  Any oil experts who know whether the Poolowanna Formation is a better reservoir for holding oil than the Algebuckina Sandstone?

"Oil Shows : Oil shows were observed in samples over the interval 996m to 1017m in the ? top Algebuckina Sandstone . The shows were not accompanied by elevated gas readings or visual natural fluorescence, or streaming cut fluorescence but had slow developing cut fluorescence in medium to coarse grained sandstones with pale to dark brown residual oil staining. Residual oil shows indicate that a oil column of c.15m was present in the past but has subsequently dissipated by water flushing and/or other migration processes. No drill stem testing was recommended but the zone will be examined again during electric logging."

"Targets : Prognosed primary reservoir targets are the Poolowanna Formation and the Tirrawarra Sandstone. The top Algebuckina Sandstone was a secondary target. Other horizons may have potential. Blamore is a wildcat well based on seismic interpretation. Prognosed formation top depths are being revised using new seismic parameters based on preliminary field wellsite interpretation and subject to ongoing revision as more data becomes available, particularly final electric logging. It is encouraging that field picks for formation tops are coming in higher than the preliminary prognosis."


----------



## NickVC (14 August 2008)

Datsun Disguise said:


> This one is giving me butterflies.... the numbers are huge and that should be enough to excite the market as we approach spudding of wells. I see this as a great free carry opportunity. What I mean by that is, buy your stake - ride the building excitement leading up to spud, sell off the value of the initial stake and sit back risk free. If it takes off you always kick yourself for being a wuss - but more often than not you end up taking a profit away from a situation that could have taken part of your cap.
> 
> I think also there is one sentence that should not be underestimated regarding the CBM wells. It reads;
> 
> ...




Datsun, you were pretty exited about CTP a while ago.  You seem to know your oil and gas pretty well, so I was wondering whether you had any thoughts on the Blamore results so far 

_Preliminary Results : Preliminary interpretation of electric logs at Blamore 1 have indicated a net Permian coal sequence of slightly over 160m, approximately 4 times the net thickness expected. The coal sequences, while being drilled, exhibited a range of high gas readings including peaks up to 233 units (1 unit equals 100 parts per million – ppm) and a range of gases from C1 (methane) to C5 (pentane) suggesting a higher calorific value than typical Coal Bed Methane gases. This Permian sequence of coals will be further tested in Coal Bed Methane well CBM 93001, the next well to be drilled._


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## BESBS Player (23 September 2008)

I have been playing CTP as a classic BESBS play.

Blamore-1: entry 6 weeks from spud @ 17c and out at 26c.
CBM93001: entry at 12.5c and out at 15c

Simpson should be an interesting play. Supposedly an estimate of potentially150mmbl if it hits the black gold. I reckon 1 in 20 chance at best. Still, better odds than tatts!

CBM discoveries sound OK but they are in very isolated areas - not much immediate value to traders/speculators/short-medium termers. Simpson looks more appealing as it is an oil target.

I'm in at 15c as a BESBS play.
DYOR.


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## BESBS Player (24 September 2008)

Happy with management. Yesterday saw the Simpson announcement, today a broadcast. Good to see management keeping CTP in the media eye. 

BESBS action already underway. SP now 17c.

Holding CTP


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## BESBS Player (27 September 2008)

Wonder if there will be news of spudding this week for Simpson? Should see some SP activity when it does occur.

Holding CTP as a BESBS play.


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## seasprite (28 September 2008)

I pulled the pin on CTP for a quick profit on Thursday . Did not like the mention of issuing new shares (BRR-boardroom radio) to a cornerstone investor which will dilute it's value depending on what is on offer. I could be wrong but I suspect the price may drop back to 0.14 . CTP/RAW were due to spud simpson west today 28th Sept however if you go by CTP,s other drilling announcements you could easily add on another 4 to 5 days before the drill bit actually makes contact with the ground , once again we will see tomorrow .


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## BESBS Player (29 September 2008)

Agree that spud is unlikely to start today. It is not a long change over between CBM93001 and Simpson. Happy to be proved wrong but suspect even next week for kick-off.

The allocation of new shares might take the shine off the SP in the immediate but given the potential size of Simpson, I am happy to wait and see if greed draws the punters in and lifts the SP.
For a few, a capital injection might bring extra funding security and make CTP slightly more attractive. 
Guess we will know in the next few weeks when Simpson starts.


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## seasprite (1 October 2008)

Today CTP/RAW spud simpson 1 , target 190mmbbls UOIP . Lets hope the drilling contractor has learnt from the 2 previous wells and has picked his game up to have a trouble free result.


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## BESBS Player (1 October 2008)

They need a incident-free drill for this one. Given the market gitters, a smooth drill and calming news from the US would help build the SP. As you say Seasprite, it is a potential 190mmbl target so this would normally attract some punters.
Interesting times ahead.

Holding CTP


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## BESBS Player (1 October 2008)

They need a incident-free drill for this one. Given the market gitters, a smooth drill and calming news from the US would help build the SP. As you say Seasprite, it is a potential 190mmbl target, so this would normally attract some punters.
Interesting times ahead.

Holding CTP


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## BESBS Player (14 October 2008)

Been away for a week or so. What a time to watch.
Exited from CTP last Tuesday...lost 12%. Never happy to lose $$$. Overall, did OK as I played both Blamore & CBM93001 with success.

That's the end of CTP for me. If no oil in Simpson, the SP will get hammered. Good luck to all holders and hope that Simpson brings success.


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## FNQTrader (17 February 2009)

finally a bit of upwards movement. trading halt now - interesting to see what the clarification is......


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## select (17 February 2009)

FNQTrader said:


> finally a bit of upwards movement. trading halt now - interesting to see what the clarification is......




I will take a guess and say BG are annoyed at the reference to UCG and have taken it upon themselves to seek a clarication from JH re the JV and the assertion that the JV may ultimately pursue UCG as the prefered development option.

CTP were forced to clarify their latest email based news item and I would presume BG are less than satisfied with todays announcement.

Of course it was BG that was feverishly lobbying the Qld government to abandon any development approvals for UCG in the medium term.

Stick it up 'em JH. Love ya work!

But of course I may be completely on the wrong track. It may be that the ASX aren't happy with some of the assumptions.

Good luck.


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## FNQTrader (20 April 2009)

wonder how the rights trading will pan out - the options coming with the shares are more attractive to me than anything and with the shares i'm holding i can get a few - suspect a fair few people may consider selling their holdings (assuming SP is right for them) to fund rights acquisition with options) - i.e retain same number of shares after issue - but get options that go with them and hopefully a little left over cash if there's any discount at offer close date - mind you shareholding will be diluted with double the number of shares on offer (assuming offer fully taken up) but hopefully value still there.


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## Couchtrader (25 May 2009)

Wonder why MMR sold out all thier shares? Seems they see BUY as a more immediate return PEP11 looks to be going ahead. I heard they needed the $600k for drill pep11 Even so they have heaps of oppies should ctp strike oil helium and prove up their huge coal seam reserves ie a few trillion tonnes of coal in their tenaments  and with BG as a partner I cant see them sitting on this resource for too long Looks good for CTP A strike of substance will get the market talking CT


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## FNQTrader (29 May 2009)

Couchtrader said:


> Wonder why MMR sold out all thier shares?




maybe to get the cash to buy the shares/options under the rights issue - if they didn't have the cash and didn't participate - their holding would be diluted to the extent the issue is taken up anyway - by selling at the price they did relatively close to issue price they get the cash to participate and in taking up the issue they will have the same percentage holding they would have anyway - they maintaining holding and get the bonus options.... my thoughts anyway without looking at their situation and what they might otherwise be trying to do elsewhere.


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## happytown (29 May 2009)

ann out this morning, central petroleum has released a report indicating 



> a significant underestimation of the amount of gas likely to be trapped in the northern section of amadeus basin ...



in their nt tenements



> ...
> 
> the report says newly described Neoproterozoic plays may host a total of over *12 trillion cubic feet of Undiscovered Gas Initially In Place (UGIIP) at “high” or P10 estimate levels*
> 
> ...



sp currently up slightly on average volume

cheers


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## happytown (5 June 2009)

ann out this morning regarding post-seismic evaluation upgrade (threefold) of the potential of ctp's first planned oil target in the amadeus basin



> ...
> 
> for *up to 998 million barrels (MMbbls) of Undiscovered Oil Initially In Place* in a number of potential reservoir horizons in the Johnstone Oil Prospect
> 
> ...



cheers


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## FNQTrader (5 June 2009)

and more announcements coming - trading halt now in place.

Buy side has increased significantly over last few days trading. and SP up to 0.12 prior to halt

Making the rights issue look attractive after being only marginally so up till now (even considering the free options)


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## FNQTrader (15 June 2009)

trading halt today pending annoucement re oversubscription of the rights issue.

am I missing something - how does a pro-rata rights issue get oversubscribed

it mentions expressions of support from institutions - but what's that got to do with the shareholders who've applied for their alloted shares?? 

guess will have to wait and see the detail in the announcement.


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## Zaij (26 July 2009)

I've been reading around the place that people aren't too happy with the Managing Director, any idea why? Hard to find anything concrete.


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## BESBS Player (27 July 2009)

Have been buying back into CTP over the last few days as a classic BESBS play.

The company has now had a significant capital raising. This helps to secure funds and create a platform under the SP. No guarantees but for me, this is a sign that I look for.
Apart from a few CSG holes (which are a bonus for me), the real gem is the upcoming Johnstone prospect. Talk of a massive *potential *998mmbl of oil (which the odds IMHO are 1:50 at best in this largely virgin country) will get the punters in once the rig starts to move to the site. 

Happily holding CTP (9.2c ave) for another (hopefully) profitable ride.


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## BESBS Player (18 August 2009)

Still buying some on price dips. 
Happy to sit and wait. To me it has all the hallmarks of a BESBS (Buy Early Sell before Spud) play.

Patience...


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## bordercityfirm (25 August 2009)

the word on the street is that CTP have a rig in place, just a case of doting the i's and crossing the t's.

So spud could be soon, and with 998 MMbbls of Undiscovered Oil Initially In Place (UOIIP), 998,000,000 bbls of oil at $74bbl is *$73,852,000,000*.


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## bordercityfirm (25 August 2009)

Conditional upon Joint Venture approval at OPCOM meetings planned by the end of June 2009 as well as various other contingencies inclusive of funding, crews and equipment, CTP plans the following programme for 2009 to commence as soon as possible but probably by late August, early September 2009:
1. Three to four conventional wells (Amadeus Basin):
• Johnstone-1: oil, Mereenie style, primary porosity in sandstones as well
as fractured sandstones
• Ooraminna-2: gas, fractured carbonates and sandstones, already flowed
gas to surface
• Magee-2: gas, condensate, Helium, already flowed gas to surface,
subsalt
• Optional Mt Kitty 1: gas, condensate, Helium, 430 km² subsalt
2. Five to ten fully cored CSG wells (Pedirka Basin)
• Five fully cored CSG wells- a further five fully cored CSG wells as an
option or follow up fraccing and flow testing
• Flow testing of CBM93001, drilled in the 2008 campaign
3. 2D seismic in the Amadeus and Pedirka Basins
• 1,250 line km
• Targeting both regional and prospect definition targets for oil, gas,
condensate and Helium
4. Cost
• $22-44 million with c. 40-60% anticipated to be provided by JV partners


  MMR hold a large holding in CTP and look where their share price is heading.....think about it!


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## adobee (26 August 2009)

WHats the strike price on the options ?? 2014
why can i never find this information.. is there somewhere i should be looking  ?!??
thanks


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## Mazrox (26 August 2009)

Conversion price for options CTPO is 16c (from Quarterly report) - exp 31 March 2014

(Wonder how many more characters to make 100?...  )


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## BESBS Player (26 August 2009)

Looks like some punters are realising the potential value in CTP. I think Bordercityfirm gives a nice summary...


Holding CTP at 9c ave


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## LeeTV (26 August 2009)

Massive volume today, 42,591,875 , sp retraced a bit but looks strong at 10 - 10.5c will be an interesting open tomorrow.

25 Aug 2009 0.088 3.53%  0.090 0.085 8,920,651 
24 Aug 2009 0.085 0%  0.087 0.084 3,249,950 
21 Aug 2009 0.085 -1.16%  0.089 0.084 3,040,396 
20 Aug 2009 0.086 3.61%  0.089 0.084 3,803,414 
19 Aug 2009 0.083 0%  0.086 0.082 5,904,037


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## bordercityfirm (27 August 2009)

Just had the time to sit down and assess the recent deal with EIR so a few thoughts/comments below (all imho only). 

Firstly it’s extremely positive to see Gillespie bring to the table his wealth of experience in the sector and, for central to have achieved highly desirable terms to the negotiations. As usual, I believe the market has discounted the impact this deal may deliver to CTP’s bottom line (as it seems 9/10 just want to see drilling). Put simply, the company has further strengthened its fundamentals via this potential farmin, and, the upcoming campaign will play an interesting role towards future developments in EP130 which I’ll quickly outline below. 

Now using other CBM drilling models as a basis of assessment and applying it towards this deal, Central and EIR should potentially be able to delineate 1 TCF per annum at 3P level by undertaking a series of 25 flow tested exploration wells plus a further 15 barrel cores, thus a total of 40 wells. This would be completed with two rigs at work, one undertaking the exploratory drilling and flow testing whilst the other is out coring. 

For diagrammatic purposes let’s assume each well costs a total of $1m, hence the total outlay is $40m per TCF at 3P level (realistically the wells may cost around $1.2m-$1.5m with flow testing but this is indicative only). At the proposed 2.4:1 promote level (or 60:40) farmin terms outlined in this agreement, the cost to CTP to delineate 1TCF at 3P level will be a total of $16m, with EIR contributing $24m. 

In addition to this, as per the announcement EIR will be paying a “Reserve Premium” of $10m per TCF of 3P reserves delineated, thus reducing CTP’s expenditure to a mere $6m per TCF. This potential financial outcome to CTP alone is one of significance. 

Looking into this further, from an in ground value perspective the potential delineation of 1TCF (or 1000 PJ) per annum is quite significant, and we all know recent deals in the sector have been very compelling at the least. 
"Just had the time to sit down and assess the recent deal with EIR so a few thoughts/comments below (all imho only). 

Firstly it’s extremely positive to see Gillespie bring to the table his wealth of experience in the sector and, for central to have achieved highly desirable terms to the negotiations. As usual, I believe the market has discounted the impact this deal may deliver to CTP’s bottom line (as it seems 9/10 just want to see drilling). Put simply, the company has further strengthened its fundamentals via this potential farmin, and, the upcoming campaign will play an interesting role towards future developments in EP130 which I’ll quickly outline below. 

Now using other CBM drilling models as a basis of assessment and applying it towards this deal, Central and EIR should potentially be able to delineate 1 TCF per annum at 3P level by undertaking a series of 25 flow tested exploration wells plus a further 15 barrel cores, thus a total of 40 wells. This would be completed with two rigs at work, one undertaking the exploratory drilling and flow testing whilst the other is out coring. 

For diagrammatic purposes let’s assume each well costs a total of $1m, hence the total outlay is $40m per TCF at 3P level (realistically the wells may cost around $1.2m-$1.5m with flow testing but this is indicative only). At the proposed 2.4:1 promote level (or 60:40) farmin terms outlined in this agreement, the cost to CTP to delineate 1TCF at 3P level will be a total of $16m, with EIR contributing $24m. 

In addition to this, as per the announcement EIR will be paying a “Reserve Premium” of $10m per TCF of 3P reserves delineated, thus reducing CTP’s expenditure to a mere $6m per TCF. This potential financial outcome to CTP alone is one of significance. 

Looking into this further, from an in ground value perspective the potential delineation of 1TCF (or 1000 PJ) per annum is quite significant, and we all know recent deals in the sector have been very compelling at the least. 

recent deals for 2P reserves have ranged from $1.67 GJ (QGC/SHG) to $4.91 GJ (Petronas/STO) with the mean price of these transactions approximately $2.90 GJ.

Secondly (and more appropriate for CTP holders at this point in time) a breakdown of recent 3P reserve transactions in $/GJ 

recent deals for 3P reserves have ranged from $0.40 GJ (BG/PES) to $3.10 GJ (AGL/SGL) with the mean price of these transactions approximately $1.25 GJ.

Now if we were to apply $0.40 GJ to reserves delineated by CTP/EIR in EPA130 and, the company did have the capacity to delineate 1 TCF per annum at 3P level based on the drilling model specified earlier, then this would equate to the identification of approximately $400,000,000 per annum of in ground resource.

Keep in mind, CTP will fund $6-10m maximum per TCF and will retain a 55% interest ($220m) in EPA130. EIR will retain a 45% interest ($180m) through both EIR itself (25%) and its wholly owned subsidiary GSG (20%). 

I personally believe that should the company find positive results in the upcoming programme of 5 fully cored CBM’s plus the flow testing of Blamore 1, this may provide encouragement towards accelerating the campaign for EPA130. With several rigs simultaneously at work, the capacity to delineate 2 or even 3 TCF per annum at 3P level is not impossible. 

Clearly, achieving the 1TCF figure per annum on that drilling model is subject to successfully identifying the current unknown factors such as the gas saturation of the coals, thickness of the coal beds, properties of the coal, potential for fracture stimulation and assessing flow rates et al. (Testing the saturation level last campaign was not possible as the core barrels utilised were for oil and not specifically CBM, thus the results returned were inconclusive). Other issues such as the granting of EPA130 and CLC clearances are also a risk however I expect these to be minimal. 

That said, in my opinion only, overall any CBM drilling is still a limited risk venture given the extensive seismic/geological models, successful historical/recent drilling demonstrating the blanket nature of the coal over the pedirka (and even the simpson for that matter), identification of its partial sub-bituminous qualities, and, the fact that the coals in the Pedirka are correlated to that of the Ipswich which are known to be some of the most volatile in the country. 

As a refresher from memory (don’t quote me), the results of the recent campaign were:

Blamore: 132m net/233 units
CBM93001: 138m net/190 units
Simpson: 7m net/130 units

(Where the net figure is in seams >2m and the gas is measured as units of 100pm)

Anyway there’s a bit to digest for now however imo, once executed to a formal agreement, this deal with EIR will turn out to be a VERY significant and positive transaction for CTP.


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## BESBS Player (28 August 2009)

Happy with the SP and volume at present.
Reminds me of my LKO play a few months back...slow build up, plenty of time to get set then suddenly it was off and running.

Waiting happily here with CTP (9c ave)


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## Zaij (28 August 2009)

Huge spike in volume as Lee said, over 1/3rd more volume than previous best. Some dude on HC (really reliable, I know ) rang up JH, who had no idea what was behind the rise.


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## bordercityfirm (29 August 2009)

No idea what is behind the rise  the best thing I have heard in a long long time


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## adobee (31 August 2009)

options are really on the move this morning .. I think people have realised that with 2014 expiry these are really really attractive with drilling commencing now..


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## BESBS Player (31 August 2009)

CTP are now starting to appear on the radar for many.

While it is important to note that they are in largely virgin country and drilling wildcats for oil (Johnstone), they do have the following attractions:

* bucket loads of cash (recently $31m)
* huge potential targets (Johnstone)
* several targets (both CSG and conventional oil/gas)
* action hopefully in the next 6 months


These are signals for many to get set 


Holding CTP at 9c ave


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## bordercityfirm (1 September 2009)

Fundimentals are there for all to see......came across this technical chart info today: 

Technical Analysis



Targets
 Six months: 0.17     One year: 0.20 

Supports
 Support1: 0.10    Support2: 0.07 

Resistances
 Resistance1: 0.14    Resistance2: 0.17  

Pivot Point 0.09  

Moving Averages
 MA(5): 0.11     MA(20): 0.09 

MA(100): 0.10     MA(250): 0.10 

MACD
 MACD(12,26): 0.01     Signal(12,26,9): 

Stochastic Oscillator
 %K(14,3): 87.05     %D(3): 81.51 

RSI
 RSI(14): 85.01 

52-Week
 High: 0.18  Low: 0.06  Change(%): -13.3

Average Volume(K)
 3-Month: 7202  10-Days 13141.879883 

Price and moving averages

Price and moving averages has closed above its Short term moving average. Short term moving average is currently above mid-term; AND below long term moving averages. From the relationship between price and moving averages; we can see that: This stock is BULLISH in short-term; and NEUTRAL in mid-long term.

Bollinger Bands

CTP.AX has closed above the upper band by 15.8%. If the price is in a uptrend; then this upward trend has a good chance to continue. above the upper band by 15.8%. If price is in a uptrend band; this upward trend in price might continue. However a short term pullback inside the band is likely.Bollinger Bands are 96.9% wider than normal. The large width of the bands suggest high volatility as compared to CTP.AX's normal range. The bands have been in this wide range for 1 bars. This is a sign that the current trend might continue.


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## LeeTV (2 September 2009)

Looks like it's straight from Stoxline(t/a for the lazy lol):
http://au.stoxline.com/q_au.php?symbol=ctp&c=ax&Analysis=Analysis


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## bordercityfirm (2 September 2009)

Sorry leeTV.....I wasn't allowed to post the link  as I hadn't posted enough times!......Please lengthen your post you have and so on


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## LeeTV (2 September 2009)

bordercityfirm said:


> Sorry leeTV.....I wasn't allowed to post the link  as I hadn't posted enough times!......Please lengthen your post you have and so on




No need to be sorry. It's not a bad site for a quick analysis of a stock. I recognised the layout when you posted and knew straight away where it was from.

John Heugh, Managing Director of CTP, presented in Fremantle Perth today at the Good Oil Conference so we should see an ASX announcement either tomorrow or Friday in that regard. I doubt there will be anything in it we haven't already heard but it's bound to attract more interest which is always a good thing.


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## bordercityfirm (3 September 2009)

LeeTV, I wouldn't mind if CTP stayed under the radar for a while longer so that I can pick up some more on the cheap.  The only real problem I see with CTP will be when you have to press the sell button. With the acreage that they hold and one good find you might never want to sell. But if you don't sell then you don't make any money.

I started to get into CTP on the huge potential targets (Johnstone etc) that they have with CSG just a side bonus. However the more I read on their CSG  the more the conventional oil and gas projects become a side bonus.....what a problem to have


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## gaps (3 September 2009)

hi all, 

well havent seen the presentation posted on asx yet but i read it from hotcopper, bigstar, posted some extract from the presentation. He mentioned that he called JH and got a pdf version off him. 

have yet to view the original pdf of the presentation, but looking at the figures presented, it's a summary of some of us here would have know about CTP. 

this is an extract from what Bigstar posted.

•Central operates over 250,000 km²
•Proven prospectivity- ground surrounds 2 producing fields Mereenie, Palm Valley (Santos/Magellan JV)
•Billion barrel oil, multi TCF gas and multi BCF Helium* conceptual potential
•Trillion tonne coal UCG/CSG potential ( Maynard 2009)
•> 10,000 TCFG prospective syngas resources from UCG applications ( Mulready 2009)
•1.25 trillion GTL middle distillate (diesel) prospective resources from UCG syngas ( Mulready 2009)
•Dominant position in 4 whole basins
•Conventional and Non-conventional plays 
•Underexplored-well density 1/5,000 km²
•Helium* c. $100/mcfg versus natural gas Australia c.$3-5/mcfg

imo, the helium prospect is really intriguing not mentioning the billion barrel oil and the trillion tonne coal. 

judging from the ann, there should be some news about the drilling dates, likely to be in october now. 

would appreciate input here please esp anyone who has been following ctp for a longer time. Thanks in advance.

i reckon with this kind of stocks, have to sell to est free carry.


----------



## quarky (3 September 2009)

the only thing i've seen is this:

28/08/2009	Response to ASX Price Query


where it was a reply to the ASX querying about the 'sudden' spike in trading and price last week when it jumped from 0.08 to 0.12

that's all.


CTP looks promising but traditionally, in the ASX the months of September/October aren't good months for stocks going up...possibly because all those in the northern hemisphere return home after their summer holidays and re-rate their portfolios, prices, etc.


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## adobee (4 September 2009)

Wow still looking promising today ...
Options breaking through 8c  ( I still think they are really really cheap .. 2014 - trillion tonne resource can easily be confirmed by then...)
And stock breaking 14c which I saw as the resistance line with 2mill plus on buy side at 14c  ...

I am sitting on small parcel of options from a week ago.. would have been a nice trade now.. but unfortunately there is no way i am selling these are in the store room to 2014   ...


----------



## bordercityfirm (5 September 2009)

Pacific Oil and Gas Ltd in 1992, intersected a thin sandstone unit in the Heavitree Quartzite, which flowed helium-rich gas at a non-commercial rate on test 

The well intersected a thin (4.5 m) Heavitree Quartzite sandstone which flowed helium and nitrogen rich gas at a stabilised rate of 63.1 Mscfd (1784 m3/d). The gas composition (high C2+), extremely low flowing pressure (38 psi), low reservoir permeability and possible Type I (algal) source suggests that heavier ends may have been left in the formation, preventing liquids recovery (Wakelin-King 1994). It is uncertain whether fractures contributed to, or dominated the small gas flow.
Despite this encouraging result, the southeastern Amadeus Basin remains largely unexplored.

The high helium content (6.2%) of the Magee-1 gas is evidence of high seal integrity.  
With a retention period estimated to be approximately 700 Ma, preservation is the critical play element in the lower Gillen Member–Heavitree Quartzite petroleum system.
Proterozoic basins with giant oil and gas fields such as the Sichuan Basin (China), East Siberia Basin (Russia) and the South Oman Basin are all capped by thick evaporite successions.

Many commercial extracts of helium from hydrocarbons take place with concentrations of as little as 0.3% or higher.

"The 185 bcf of helium is part of a 3 tcf gas target at Mt Kitty, so keep that in mind, in regard to asset valuations. These estimates are at the P90 level, so are optmistic. Still possible though. If 1/5 of the P90 target is discovered the SP effect will still be major
15bcf of helium is at Magee and part of a .8tcf gas target. This is where gas and helium has previously flowed to the surface. That is something to be excited about."


Helium from Gas
"part of the total composition of the gas stream. It can range from mere parts per millions to a few percent of the total composition. In almost all cases, it has to be extracted as a by-product of the gas stream which is for the most part methane. Typically the gas stream contains inerts such as helium and nitrogen and corrosives such as CO2. Depending on the richness of the gas, heavier ends ie C3+..., may be present. Generally through refrigeration, recovery of these heavier components is possible ie propane, butane, pentane, etc. 

Again the amount recoverable is a function of the quality of the gas and how lean or rich it is. The percentages vary field by field and sometimes well by well. For the helium to be extracted, the methane itself has to prove to be economic ie commercial rates required to build plant, infrastructure"


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## bordercityfirm (5 September 2009)

Demand for helium from high-tech industries is out-stripping supply. Why the sudden supply crunch?[1] Suppliers have had to ration while not refusing to provide helium for priority medical equipment, large research installations and NASA. But the supply was and will be withheld from general purposes and low priority applications.

As high-tech industries develop, worldwide demand is growing fast. Consumption  increased by between 5 and 10% annually in the 1990s then slowed to around 3% annually this century. According to the U.S. Geological Survey, present helium consumption is estimated to be circa 75 tons per day or 170 million cubic metres per year. On current estimates, global consumption may only be sustained for a few more decades.

Handled and marketed by the industrial gases sector, helium was in the past simply obtained as a by-product of the separation of atmospheric gases, but as a result of the growing demand, nowadays it is mostly supplied as a by-product from the petroleum industry. Commercial production of liquefied or compressed helium for the World market is concentrated in seven countries: the USA (the world’s first producer), Poland, Qatar, Algeria, Russia, China and Australia. In the USA, the helium reserve was privatized in 1996 and is now in the process of being sold off, whereas helium production appears to have already peaked.

During 2006, most helium suppliers announced price increases of 10% to 15%. These adjustments were justified by record-high energy and transportation costs, continuing increases in crude helium costs, rising utility and labour costs. But essentially, increased helium costs were the result of a growing reliance on crude helium supplied by the US Bureau of Land Management, whose stockpile is playing an increasing role in the helium supply, as crude helium production from lower cost private sources declines, due to depletion of some of the richer natural gas fields. It is anticipated that helium costs will continue to rise along with increasing production costs as USA helium reserves continue to decline. 

Two large helium projects at Algeria and Qatar (both countries holding large natural gas reserves) came on-stream in late 2005. These had been expected to increase supply by some 20%, but have run into technical trouble, and the international market was not eased. The Algeria expansion project, designed to increase production capacity by 16.6 million cubic meters per year came on-stream at about one-half of its nominal capacity. The Qatar project, a new helium extraction facility with a production capacity of 8.3 million cubic meters, also had operational problems and output has been less than expected. 

The world market is highly concentrated as mergers and acquisition have taken place rather recently. Very few large industrial gases corporations, which trace their ancestry to more than a century ago, lead the helium World market. Air Liquide, founded in 1902, has a labour force of nearly 36 thousand and operates in about 70 countries, with sales amounting to â‚¬ 10.4 billion in 2005. It is a world leader in industrial and medical gases and related equipment and services. The Group offers solutions based on constantly enhanced technologies, over an ever increasing range of applications. 

BOC Group plc and Linde AG are now members of The Linde Group, having merged in 2006, after approval first by the European Commission, in June, followed by the US Federal Trade Commission, in September. The Linde Group is another world leader in industrial gases with a 53 thousand strong labour force, operating in some 70 countries, with a sales volume of about US$ 16 billion in 2005. 

Another important World player is the Tokyo based Taiyo Nippon Sanso Corporation (TNSC), that resulted from the merger of Taiyo Toyo with Nippon Sanso in 2004. As an ancillary part of Linde's 2006 acquisition of BOC Group, TNSC bought certain helium assets from Linde AG and BOC Group plc, including long-term helium supply contracts in the USA, Poland and Russia, two trans-fill locations in the US, and operations in Europe. This transaction was officially approved by both the US Federal Trade Commission and the European Commission, in September 2006. In the USA, the acquired helium business will be managed by TNSC's subsidiary, Matheson Tri-Gas, Inc. under the name Matheson Tri-Gas Global Helium. 

There are no known sources of refined helium not already committed in long term contracts. A hypothetical new entrant in this market would need to locate a new source of crude helium and build a refinery. Constructing a helium refinery large enough to be viable in the world market would cost between $25 to $100 million dollars. In addition, tens of millions of dollars would be needed to acquire the necessary infrastructure for distribution, trans-fill facilities, cryogenic and high-pressure tube trailers and liquid dewars, capable of transporting helium from the refinery to customers. 

Peak helium is a challenge to geologists as it is to economists who assess market trends and the viability of investments. It might turn into a nightmare to technologists who require those properties that helium alone holds.

http://www.sandersresearch.com/index.php?option=com_content&task=view&id=1240


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## adobee (10 September 2009)

Good Oil Presentation Announced, I love when people talk in the *Trillions..*

Highlights:
•Central operates over 250,000 km²
•Proven prospectivity- ground surrounds 2 producing fields Mereenie, Palm Valley (Santos/Magellan JV)
•Billion barrel oil, multi TCF gas and multi BCF Helium* conceptual potential
•Trillion tonne coal UCG/CSG potential ( Maynard 2009)
•> 10,000 TCFG prospective syngas resources from UCG applications ( Mulready 2009)
•1.25 trillion GTL middle distillate (diesel) prospective resources from UCG syngas ( Mulready 2009)
•Dominant position in 4 whole basins
•Conventional and Non-conventional plays 
•Underexplored-well density 1/5,000 km²
•Helium* c. $100/mcfg versus natural gas Australia c.$3-5/mcfg


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## bordercityfirm (10 September 2009)

This has to break 14.5c now otherwise it's not going anywhere for a while. A lot of selling pressure at the moment, how many times will it try for a fail at 14.5 

I'm thinking about locking in some profits "average 8.5c" and getting some OEX who have just got a rig (songa mercer is the word on the street) and will be drilling 2 wells this year.


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## LeeTV (10 September 2009)

bordercityfirm said:


> This has to break 14.5c now otherwise it's not going anywhere for a while. A lot of selling pressure at the moment, how many times will it try for a fail at 14.5
> 
> I'm thinking about locking in some profits "average 8.5c" and getting some OEX who have just got a rig (songa mercer is the word on the street) and will be drilling 2 wells this year.




Without a positive announcement on a drilling date and/or JV partners I doubt the resistance @ 14.5c will be broken anytime soon and expect the sp to fluctuate around 12 - 14c till we get some news. Good time to sell some @ 14c and pick them back up @ 12c imo, but don't get caught out :


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## bordercityfirm (10 September 2009)

don't worry LeeTV I was only talking about some profit, I usually work on the 75% basis and leave in 25% just in case. CTP is diffinantly one I don't want to be caught out on, but OEX is just too good  with an ann out at any time with their rig. OEX  are one step head of CTP at the moment so prepared to move some funds across.


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## gaps (10 September 2009)

hey bc and lee, yea nice presentation with impressive potential we have here.

we have been trying 14.5 cents for the third time, hopefully third time lucky!!

still a big resistance at the 14.5 mark and i think it can only be overcome with some ann from the coy. 

nice profit there bc, with a strong gain today as well. i have toyed with selling now and re entering later too. but seriously dun want to miss out on it. should be hearing news about NT gov approval, opcon JV and the drill dates soon enough. i m esp keen to hear about our Jv, British gas. 

JH mentioned about drilling mid sept to oct. so we shouldnt be too far from those dates now. with the amount of cash we have for our marketcap, and the drilling programme we are due to embark, this is surely an exciting time for CTP holders.

a little patience here i reckon.

regards gaps.


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## bordercityfirm (10 September 2009)

3rd time, more like 6th time lucky! and that's just in the last 6mths.  CTP have huge potential, huge! but just can't break 14.5c and hold too many happy with their profit at that. 

I usually like 100% plus on my investments, but I might just have tobe  happy with 65% on this one. Will hold some as a long term as you just never know as I've said before. So I'll keep in touch, check out OEX if you get a chance leeTV and gaps and tell me what you think. I have heard that shell wanted in as it was better than Sunrise but the Japanese had already got in first. Rig is booked, annoucement anytime which should set a small rocket under the wings.

Locking in profit is the name of the game. You never go bust making profit.


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## zippy69 (16 September 2009)

A friend has these and thinks they will go to $10 within a year or so. Do others hold this view or is she dreaming


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## UPKA (16 September 2009)

zippy69 said:


> A friend has these and thinks they will go to $10 within a year or so. Do others hold this view or is she dreaming




so has she put her house on it yet? 

at the current MC, CTP is valued at $80m, so 66x current MC will give u a value of $5b... with 1 or 2 drill rigs, which hasnt even started drilling yet, come on...


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## Pallen (16 September 2009)

zippy69 said:


> A friend has these and thinks they will go to $10 within a year or so. Do others hold this view or is she dreaming




Lol.

This _friend_ on hotcopper, bunch of mindless rampers who live on cloud nine 24/7.

Never going to happen, I had to laugh at the presentation done by the MD - suggesting CTP could have access to 1100TCF on its tenements, now doesnt that sound impressive?

Pity that there is less than that in known resources around the world.

Hot air, and a heap of it.

They would be better off focusing on their helium play.


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## zippy69 (16 September 2009)

Pallen said:


> Lol.
> 
> This _friend_ on hotcopper, bunch of mindless rampers who live on cloud nine 24/7.
> 
> ...




When she told me I thought she was dreaming, but didnt have the hear to tell her.  I thought i would ask just incase there was some potential.


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## BESBS Player (16 September 2009)

Hi guys,

Despite the PR put out by the company, I tend to take these valuations with a grain of salt. Most are based on computer programs and until the drill bit turns, we don't know. It is largely speculation.

That said, CTP does have some redeeming features.
It is drilling in largely virgin territory and Johnstone will excite the market pre-drill due to the potential estimates. Yes, they are potential estimates, but punters do read them. And wildcats do have an approximately 1 in 10 chance of success. Whether the projected oil quantities would be present if drilling is successful is still to be seen. Nonetheless, the punter excitement is enough for me to see serious $$$$$ in this as a BESBS (and maybe leave a little on the table as the drill bit turns).

The CSG adds potential value but to me, the real potential here is Johnstone.

Just MHO and I'm sure some long termers will really rate the CSG potential much higher than I do.

Good luck with CTP.

Holding CTP at 9c ave


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## adobee (16 September 2009)

zippy69 said:


> A friend has these and thinks they will go to $10 within a year or so. Do others hold this view or is she dreaming




Your friend might need a rest...  

That being said the options are really drying up.. 2014 is looking very attractive...


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## gaps (16 September 2009)

$10? sp now is only 15c? well. ask her how she got that idea from??

CTP has huge potential in the large tenements (largest in Aus) it holds in the red center. highly unexplored. the numbers put up is huge, and it's still very much a speculative play. many risks involved still. 

they should be drilling soon and it maybe the cause of alot of anticipation into this stock atm. they have not as yet release details about the drill, JV, approvals. the list of jv partners are encouraging with big name British gas there who bought up the PXA's farm in agreement with CTP earlier.

like phallen, i would wanna see the company focus more in the helium play at hands, helium a scarce resources have increasing demand due to the technological advances. the last well Margee 1 turn up He concentration of around 6% (off my head) and its the top 1% He conc naturally occuring in world. commercially viable ones are like less than a percent? however we wont see the play being explored in this 1st phase of the drilling program starting sept or oct. 

for this sp to rise substantially they will have to prove up the reserves. they can drill but until they do find a substantial amount there, market cap wouldnt rise that much. 

all said, it's still an interesting specie company. weigh ur risk and do ur research.

gaps.


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## LeeTV (16 September 2009)

zippy69 said:


> A friend has these and thinks they will go to $10 within a year or so. Do others hold this view or is she dreaming



If you get real close you will hear her snoring :

Well it cracked the holy 14.5c today to close at 15c with buyers to sellers(and units) around 3:1 next stop 16c. Drilling schedule out soon should create more interest. Regardless of what they hit the sp _should_ rise in anticipation so has the potential in the short term to make holders some fast money prior to any results. My plan for this one is to cash in soon and be free carried through to the results.

Disc holding @ 11c


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## YOUNG_TRADER (23 September 2009)

Just seeing MEO crack 80c today makes me think gee wiz gotta back those companies with great PR teams and pie in the sky targets like MEO, BUY and CTP


CTP could become the next MEO if the market takes what they say seriously and I think it will in the coming weeks for the following reason

CTP is no longer alone in the area, another major Falcon Oil and Gas has now proved up between *40TCF-90TCF of CSG to the North of CTP* setting this NT area up as a potentially huge hydrocarbon/CSG play much like the East Coast of Australia

http://www.falconoilandgas.com/news/release.php?id=53

They are now with Petro Hunter http://www.petrohunter.com/corp_pro.php

In the process of farming this area out


http://www.falconoilandgas.com/news/release.php?id=54




Should they attract a major player or even the Chinese CTP's acreage will become much much much more valuable


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## swm79 (23 September 2009)

YOUNG_TRADER said:


> Just seeing MEO crack 80c today makes me think gee wiz gotta back those companies with great PR teams and pie in the sky targets like MEO, BUY and CTP
> 
> 
> CTP could become the next MEO if the market takes what they say seriously and I think it will in the coming weeks for the following reason
> ...




are you holding YT?

i almost missed the chance with MEO - lost 400% before i bought in, but its almost made it up for me - its going REALLY well at the moment.

i think its more vision backed by a proven board than pie in the sky... i could be wrong but its what put KAR up to $10 and i'm happy to hold and see what happens... if the rumours are true... or even if they run up the SP... i'll be happy


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## YOUNG_TRADER (23 September 2009)

yeah I bought some around 8c about a month or 2 ago waiting for a bunch of catalysts

BG JV
Drilling 
and now Falcon Oil farmout (I think this will have an impact on the value of the area and hence CTP)


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## BESBS Player (24 September 2009)

Yes, agree YT & SWM.

Given time, CTP will fly along. The path it takes might be interesting. If we get a big oil drilling prospect first up (ie. Johnstone), then should see a traditional BESBS play operating. If we see more development with CSG first, I suspect that it will rise but probably a little harder to predict how the market shall react. 
Either way, the longer term prognosis suggests a SP rise will occur in the next 6 months.


Happily holding CTP


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## adobee (30 September 2009)

CTP getting some interest this afternoon.. 
Off the hook...

Drill results or something must be coming out ..

Go Baby Go


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## YOUNG_TRADER (30 September 2009)

YOUNG_TRADER said:


> yeah I bought some around 8c about a month or 2 ago waiting for a bunch of catalysts
> 
> BG JV
> Drilling
> and now Falcon Oil farmout (I think this will have an impact on the value of the area and hence CTP)




I think its because drilling program is about to commence, couldn't find anything about Falcon Oil farming out or anything 

Anyway Im not complaining


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## swm79 (30 September 2009)

did a quick scan and couldnty find anything of merit.

left for lunch, came back and BOOM - up 35% and climbing - on no news - i justhope they havent awoken the sleeping giant because i want more shares!!!!!!!!!!!


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## jonojpsg (30 September 2009)

AS pointed out in MEL thread, CTP was rated a HIGHLY spec buy in todays ASCI.  Seems that there must be some active traders getting this newsletter (me being one of them).  Will be interesting to see how far this pushes up - interesting how media affects trading ala MOG's initial jump yesterday and then pushing on today after reports of the 350% jump.


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## swm79 (30 September 2009)

jonojpsg said:


> AS pointed out in MEL thread, CTP was rated a HIGHLY spec buy in todays ASCI.  Seems that there must be some active traders getting this newsletter (me being one of them).  Will be interesting to see how far this pushes up - interesting how media affects trading ala MOG's initial jump yesterday and then pushing on today after reports of the 350% jump.




well thats good/bad... both 

i thought it might have been something more interesting like directors or employees or their family and friends... indicating something was "up"

any quotes from the newsletter?

where can i find a copy?


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## adobee (30 September 2009)

TRADING HALT - pending announcement pre open Friday

BOOM - Good News Please

If someone has the recommendation can you post the gist of it !?!?


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## Jay-684 (30 September 2009)

and now its in a trading halt!

very very interesting.... obviously word leaked prior to CTP putting in the request to the ASX...

can't wait for the announcement to come out! (bought these @ 12c back in '07 and more during the recent dip ~10c)


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## BESBS Player (30 September 2009)

Yes CTPers, did seem a big move today. Guess we will know Friday?
Punters all seem to be eagerly awaiting some news on the drilling front. Have been happy to hold and watch as the SP tracks northward in anticipation.
From this SP base, a drilling program that is up to expectations now should see this track higher still.

Largely virgin territory, heaps of cash in hand, a drilling program soon to be announced - there is a lot to like about CTP 

This stock also allows one to play it as a traditional BESBS (Buy Early Sell Before Spud) or a longer term hold. Love these types...


Happily holding CTP at 9c ave


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## jonojpsg (30 September 2009)

adobee said:


> TRADING HALT - pending announcement pre open Friday
> 
> BOOM - Good News Please
> 
> If someone has the recommendation can you post the gist of it !?!?




Hey adobee, in reality it wasn't anything that hasn't been posted right here in this thread.  Basically that CTP has gangloads of permits racked up in NTs most prospective O&G basin and that if even a small fraction of what *might* be there IS there, then CTP will be valued WELL above what it is now.


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## Dangerous (30 September 2009)

Jay-684 said:


> and now its in a trading halt!
> 
> very very interesting.... obviously word leaked prior to CTP putting in the request to the ASX...
> 
> can't wait for the announcement to come out! (bought these @ 12c back in '07 and more during the recent dip ~10c)




Australian small cap investors (ASI) put a recom buy on CTP and MEL today.  The email came out at 1232.

Appears to be coincidental.

ASI in recent months recom BOW, LNG and MEO all for 300-odd percent gains


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## adobee (30 September 2009)

Australian small cap investors (ASI) 

Whats there website I have googled it and come up with daily reckoning ?
?  ?? ? ? cheers


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## Pallen (30 September 2009)

adobee said:


> Australian small cap investors (ASI)
> 
> Whats there website I have googled it and come up with daily reckoning ?
> ?  ?? ? ? cheers




Adobee, follow the link.

Hope it helps. It's effect is similar to the Speculator, nice report, even nicer SP rise.

http://www.portphillippublishing.com.au/asi/


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## adobee (1 October 2009)

*CENTRAL PETROLEUM SECURES MULTI‐MILLION DOLLAR RED SKY  FARM‐IN TO DRIVE ENERGY CAMPAIGN IN CENTRAL AUSTRALIA *

In all, Red Sky Energy will commit via farm-in to becoming a minimum 10% stakeholder in 27 of Central Petroleum’s energy focused permits around the Red Centre. This will require Red Sky Energy to fund up to 20% of the first three conventional wells in each of the 29 permits, as well as 20% of the first A$3 million of seismic costs incurred for each permit. Red Sky will also pay to Central Petroleum A$5 million as a series of reserve premiums, for each increment of one trillion cubic feet of gas (TCFG) or oil equivalent (167 mmboe) that may be identified in proved, probable and possible reserves (3P) in each permit.


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## swm79 (1 October 2009)

good AND bad news... i was hoping i would be able to rip some capital out of my other shares before the spotlight was turned onto this one


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## adobee (1 October 2009)

Reopen again this morning I thought we were waiting to Friday WTF ?!?!

I dont think that it will be able to push beyond 25c.. probably retrace shortly..
If its pushes 25c I think that this will be a big break out
Fingers crossed though!


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## BESBS Player (1 October 2009)

Happy enough with the announcement.

Red Sky Energy will commit via farm-in to becoming a minimum 10% stakeholder in 27 of Central Petroleum’s energy focused permits around the Red Centre.
This will require Red Sky Energy to fund up to 20% of the first three conventional wells in each of the 29 permits, as well as 20% of the first A$3 million of seismic costs incurred for each permit.
Red Sky will also pay to Central Petroleum A$5 million as a series of reserve premiums, for each increment of one trillion cubic feet of gas (TCFG) or oil equivalent (167 mmboe) that may be identified in proved, probable and possible reserves (3P) in each permit.

From a SP perspective, the next big trigger will be a drilling program. If this is well received by the punters, then CTP could easily go for a pre-spud run. Just depends what the program says...


Holding CTP at 9c ave


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## swm79 (1 October 2009)

BESBS Player said:


> Happy enough with the announcement.
> 
> Red Sky Energy will commit via farm-in to becoming a minimum 10% stakeholder in 27 of Central Petroleum’s energy focused permits around the Red Centre.
> This will require Red Sky Energy to fund up to 20% of the first three conventional wells in each of the 29 permits, as well as 20% of the first A$3 million of seismic costs incurred for each permit.
> ...




i think once they start drilling - even if there are a few dusters on the way - that more and more punters are going to start to take notice to this one.

given the absolutely HUGE amount of land they hold and the HUGE amount of tennements and prospects available i think its a punters dream.... to have Falcon in the same area too is just another bonus.... if things like a BG hook up etc take place we could be in for a HUGE ride


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## bordercityfirm (2 October 2009)

You are right BESBS Player the SP is only going one way and that is up, not bad ROG getting a 10% holding in all CTP tenements I think Red Sky will be carried with the CTP band wagon as well now. Just wait to we start drilling and then we'll see some movement.


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## BESBS Player (5 October 2009)

Yes, Bordercityfirm,

Once a drilling program is announced, (assuming it is drillings in the short-term future), the market should like the news. If the initial targets were linked to oil targets, this could run very quickly. Still, have to wait and see. 

Would love more news soon.


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## adobee (12 October 2009)

BESBS Player said:


> Yes, Bordercityfirm,
> 
> Once a drilling program is announced, (assuming it is drillings in the short-term future), the market should like the news. If the initial targets were linked to oil targets, this could run very quickly. Still, have to wait and see.
> 
> Would love more news soon.




_*The Company plans, subject to various contingencies, a robust exploration programme to commence Q4 2009 including : *

Phase One 2009
5 fully cored CSG wells Pedirka Basin (34–70 TCFG prospective resources CSG, >10,000 TCFG UCG) flow testing CBM93001 
GoreTM survey Johnstone (c.900 MMbbls UOIIP) 
Ooraminna–2 gas, directional appraisal well 2 TCFG UGIIP– already flowed gas to surface 1,350 line km seismic (Amadeus and Pedirka) 
Subtotal $25–30 million, CTP $16–19 million_

I would expect we will start seeing some news in this regard very shortly as we are now in Q4 ..


----------



## adobee (15 October 2009)

*"The Company refers to its previous announcements to the ASX of 1 October 2009 and 2 October 2009, in relation to the farm-in to certain of the Company's energy focused permits in central Australia by Red Sky Energy (NT) Pty Ltd ("Red Sky"), a wholly owned subsidiary of Red Sky Energy Limited (ASX: ROG).
It is a requirement of the farm-in arrangements with Red Sky that Petroleum Exploration Australia Limited ("PXA") executes certain deeds of assumption. The Company maintains its view that, under the terms of the existing farmout and joint operating agreement(s) between the Company and PXA, PXA is compelled to execute the deeds of assumption. The Company formally requested PXA to execute the deeds of assumption by no later than Wednesday 14 October 2009.
As at the time of this announcement, the Company has not received counterparts of the relevant deeds of assumption duly executed by PXA.
As the implementation of the Red Sky farm-in agreements requires the execution of the deeds of assumption by PXA, a potential consequence of PXA not executing the deeds is that Red Sky may not become a Participant and the Joint Venture may continue at an impasse. This could result in the commencement of the joint venture's Phase 1 exploration programme (which, as disclosed on 1 October 2009, comprises five coal seam gas wells, the 2 TCFG UGIIP (high estimate) Ooraminna prospect in EP82 and 1,350 kilometres of seismic across the Amadeus and Pedirka Basins) or other proposals being further delayed, or prevented and place the good standing of the permits in jeopardy.
Already, because of delay in approval of the Phase 1 drilling programme, the drilling rig previously considered for Ooraminna 2 is no longer available, and there is a serious risk that no other drilling rig will become available during the remainder of 2009 for this well.
A meeting of the Board has been convened for Thursday 15 October, at which the Board will consider the appropriate action for the Company to take.
Sincerely,
John Heugh
Managing Director
Central Petroleum Limited*


Wow not to positive this morning.. I am looking at it as a buying opportunity.. but they better get this sht sorted !


----------



## Out Too Soon (15 October 2009)

I think you're right Adobee, negative news, but I'm suspicious that those "in the know" may be jumping on now ready for a positive ann. that turns it all around. Call me cynical, but the wording, even the bold lettering/font smells of market manipulation, not that such things ever go on.
     I'm having a cynical punt, if a positive ann. comes out soon reversing the mood ( & sp) surely they should be investigated. In the mean time I'll cash in & my cynicism will pay off. Otherwise long term still looks very good despite seemingly hopeless or corrupt management.


----------



## adobee (15 October 2009)

picked up more at 14.5c  
I think that the announcement post todays meeting should be positive either way.. there should be resolution and set track forward here in...


----------



## BESBS Player (15 October 2009)

G'day A.

I saw it from a BESBS perspective and sold out.

The ROG side of things didn't worry me as that was very 'in the future'. The part that worried me from a Buy Early Sell before Spud perspective was the delay in drill program and little progress in getting a rig.

Longer term, CTP will be a winner as it will finally drill large potential targets. Yet as BESBS Player, I'm not happy to leave the $$$$ on the table with no drilling close by. Time to get set in a couple of other plays that have lower SP entry points.

No doubt I'll be back at some time.

Bought CTP at 9c ave. Sold at 15c ave.  Profit 65%


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## Donga (16 October 2009)

Over the small while I've been following CTP and ROG, have become more impressed with the respective managements and wouldn't be surprised if we see positive announcements sooner than later. I think BG are being outmanoeuvred and wouldn't be surprised if CTP have another ace up their sleaves. Holding both CTP, ROG and their respective options. And BESBS, hope you're getting back into MMR before next week


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## adobee (16 October 2009)

*RED SKY FARM-IN: CTP BOARD RESOLUTION TO COMMENCE PROCEEDINGS *The Company refers to its announcement to the ASX of 14 October 2009. As foreshadowed in that announcement, a meeting of the Board of the Company was held on Thursday 15 October. At the meeting, the Board resolved to issue a notice of dispute under relevant joint venture documents in connection with the failure by Petroleum Exploration Australia Limited ("PXA") to execute the deeds of assumption in relation to the farm-in by Red Sky Energy (NT) Pty Ltd ("Red Sky"). The Company plans to issue this notice of dispute shortly. PXA has indicated that it is still considering the issues, including the Company's demand that PXA execute the deeds of assignment, and hopes to be in a position to provide a response by close of business *Wednesday, 21 October 2009. *It is the Company's view that it has exercised a contractual right to assign a 10% interest in the permits concerned to Red Sky pursuant to the terms of the Farm Out Agreement as amended (FOA) between the Company, its subsidiaries and PXA. While maintaining its views expressed in the last announcement, the Company recognises that the possible outcomes of the dispute process are *(i) the farm-in by Red Sky proceeds as planned (subject to approval from the relevant government petroleum divisions); (ii) the farm-in by Red Sky is blocked; or (iii) PXA has a right of pre-emption and acquires the relevant interest on the same terms as Red Sky *(again, subject to approval from the relevant government petroleum divisions). Irrespective of the ultimate outcome, delays may continue to impact the Company's work programmes. *However, it remains the Company's hope that the Joint Venture will proceed in due course with the work programme as discussed in the previous release so as to satisfy the official Northern Territory Department of Regional Development, Primary Industries, Fisheries and Resources (DRDPIFR) minimum exploration programme requirements necessary to maintain the permits in good standing.*


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## bordercityfirm (17 October 2009)

BESBS Player, good profit, nearly as much as me!

If the money is burning a hole in your pocket you should have a look at TEX at least they will spud a well this year Stike oil made a success next door under L. Roe who Tex now have onboard (um funny how he then buys acerage with Tex).  

HIGHWAY 71 OPERATIONS UPDATE
Target Energy Limited (“Target”) (ASX CODE: TEX) is pleased to announce that it has been advised by the operator of the Highway 71 prospect that the date for the commencement of drilling operations at this well is expected to be on or about 26 October.
The drilling rig is scheduled to be mobilised to the Highway 71 well site next week following the completion of drilling operations at its current location. Site preparations at the proposed well location are continuing.
Target is earning a 25% working interest in the Highway 71 prospect, situated in Wharton County Texas, approximately 100 kilometres west-southwest of Houston. The prospect has the potential to recover up to 67.5 Billion cubic feet (Bcf) of gas and 1.1 million barrels of condensate/light oil from its primary and secondary targets.
Drilling is expected to take six weeks to drill to the programmed Total Depth of 4,115 metres (13,500 feet). The well is to be drilled on a “turn-key” contract.

TEX share of oil and gas in place:
65,137,500 gas 
20,625,000 light oil

And they only have 156,409,638 shares (as of the 28th of Oct).

Come on do the sums????

US$85,762,500


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## adobee (19 October 2009)

Result wasnt to bad today.. I thought there would be a lot of short termers jumping ship as they were scared of the direction the stock would take but on the whole we havent dropped to far..  Aside from cost of litigation we have seen that CTP is keen to get drilling and will take action to get the ball rolling..  I would expect that on Thursday we will see PXA & BG come to the party..


----------



## deeenieweeenie (23 October 2009)

BESBS Player said:


> Happy enough with the announcement.
> 
> Red Sky Energy will commit via farm-in to becoming a minimum 10% stakeholder in 27 of Central Petroleum’s energy focused permits around the Red Centre.
> This will require Red Sky Energy to fund up to 20% of the first three conventional wells in each of the 29 permits, as well as 20% of the first A$3 million of seismic costs incurred for each permit.
> ...




Quoting John Heugh "On 22 October 2009, the Company submitted a minimum Exploration and Appraisal Programme and Budget ("Minimum EAPB") to the PXA Broadacre JOA participants which provides for work and expenditure towards compliance with the Minimum Work Obligations of the Broadacre permits.
Under the JOA, the Minimum EAPB is now regarded as being unanimously approved by the Operating Committee. Accordingly the Company, as Operator, is required to implement the programme, and proposes to commence doing so immediately by signing contracts with Wallis Drilling Pty Ltd for a 5 well fully cored coal seam gas programme and with Terrex Seismic for a 1,380 line km. seismic acquisition programme.
Some of the seismic programme, involving some 400 line km is outside of the PXA Broadacre Joint Venture and has been approved by Trident Energy Limited and He Nuclear Limited as well as the Operator."

This great news!!!!!! We have a driling program!!!! Expect SP fly on Monday


----------



## Alporfavor (24 October 2009)

Yes I'm happy with the news as well. But I don't think that the SP will spike massively on Monday (hope I'm wrong though ).

I'll be happy if it can hold 16c.


----------



## Alporfavor (24 October 2009)

For some reason i can't edit my last post so I'll continue here...

I'm happy with the announcement as at least there shall be some progress made this quarter and that the "minimum exploration programme requirements necessary to maintain the permits in good standing" will be completed (though I'm not sure how much of a threat that really was).

Also good to see that this isn't spiraling into a lengthy and costly legal battle. 

Bad news is of course that PXA are still stalling with regard to the ROG JV. It seems that they want to have their cake and eat it too (minimize their spending whilst their keeping opportunities open for a later date). 

The recently announced schedule is quite tame in comparison to what has been planned earlier:



adobee said:


> _*The Company plans, subject to various contingencies, a robust exploration programme to commence Q4 2009 including : *
> 
> Phase One 2009
> 5 fully cored CSG wells Pedirka Basin (34–70 TCFG prospective resources CSG, >10,000 TCFG UCG) flow testing CBM93001
> ...







deeenieweeenie said:


> and proposes to commence doing so immediately by signing contracts with Wallis Drilling Pty Ltd for a 5 well fully cored coal seam gas programme and with Terrex Seismic for a 1,380 line km. seismic acquisition programme.




Whilst the 5 CSG wells are nice i don't think that it will excite the market (or myself) anywhere near as much as the rest of our targets, and the seismic program isn't the same as drilling (proving) it.

I may be completely wrong here - I don't profess to be an expert.


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## Joe Blow (24 October 2009)

deeenieweeenie said:


> Expect SP fly on Monday




Being positive is one thing but assertions like this really are a little unnecessary, especially since nobody knows how the market is going to react on Monday. Instead of "Expect SP fly on Monday" how about "Things are looking good for CTP in the near term"?



Alporfavor said:


> For some reason i can't edit my last post so I'll continue here...




You have 20 minutes to edit your post after submitting it so please be sure to use this window of opportunity to ensure that your post is exactly how you want it to be.


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## Trader Paul (26 October 2009)

Hi folks,

CTP ..... looking further ahead, should be booming in early-January 2010,
as a significant and positive time cycle is due to slot into place, on:

      05-08012010 ... significant and positive cycle here

         09022010 ... positive cycle ... finance-related ?

      15-16022010 ... positive spotlight on CTP ... 

    2602-01032010 ... positive news expected here !~!

..... 2nd half of March 2010 should also be positive for CTP, as well.

More later.

have a great day

   paul



=====


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## adobee (30 October 2009)

Articles on CTP

http://activepaper.smedia.com.au/De...01&PageLabel=15&EntityId=Ar01501&ViewMode=GIF


http://activepaper.smedia.com.au/De...seHref=OGB/2009/08/01&PageSize=4&PageLabel=14


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## adobee (9 November 2009)

*KEY DRILLING CONTRACT ACCELERATES CENTRAL’S  HYDROCARBON PUSH IN AUSTRALIA’S RED CENTRE***
The search for oil, helium, coal seam gas and other unconventional “new era” hydrocarbons in Central Australia received a significant boost late last week, with the signing of a five-well drilling contract by the region’s largest Operator in innovative energy exploration. Perth-based Central Petroleum Limited (ASX: “CTP”) *signed the contract with WA-based drilling services company, Wallis Drilling Pty Limited, to drill five fully cored coal seam gas (CSG) wells over the next five months,* in the highly prospective Pedirka Basin southeast of Alice Springs where the Company is exploring for an independently reported potentially recoverable prospective resource of *34 -70 trillion cubic feet (TCFG) of CSG *as well as conventionally reservoired oil targets. *The announcement follows the recent signing of a contract with leading seismic operator, Terrex Seismic Limited, for a 1,350 kilometre 2D seismic survey over the Pedirka and neighbouring Amadeus Basins – the largest single survey ever undertaken in these relatively underexplored but highly prospective regions in central Australia*. “These two contracts represent another milestone for our exploration in Central Australia, paving the way for the next phase of an extensive drilling and seismic exploration programme to prove up the tremendous potential for hydrocarbons that all our previous surveys have been pointing to,” Central Petroleum’s Managing Director, Mr John Heugh, said today.
“If the results from these first five CSG are successful, subject to Joint Venture approval, they could be followed up quickly with further fully cored and or production test CSG wells in the Pedirka Basin.” The initial fully cored CSG wells will be drilled in adjacent Exploration Permits 107 and 93, the latter of which abuts the South Australian border. *The first CSG well, in EP 93, is due to be spudded in the first week of December *with access road repair and seismic line clearing crews being mobilised by mid November. Central’s imminent Phase One 2009 exploration programme– valued at A$32 million – will also include a _comprehensive geochemical survey over the Johnstone, Surprise and Stuart oil prospects in the Amadeus Basin near the WA border in EP 115, a promising oil permit where the Company is targeting upside “high” estimates of over 500 MMbbls UOIIP in the first three prospects._ “We are confident that the seismic acquisition, which will run over into 2010, will not only provide more detail and a possible expansion in size of up to five existing oil, gas and helium prospects slated for attention in 2010, but will open up a number of other new leads for follow up work,” Mr Heugh said. “Although the Company aims to potentially develop large scale GTL and helium extraction industries in the longer term based on gas of various compositions inclusive of CSG, it has also recently committed to a scoping study of various plant designs and sizes for relatively low volume helium extraction and monetisation, subject to discovery, which, along with the potential of significant oil discovery may hold promise for much earlier cash flow.” A conventional well, Ooraminna 2, targeting c. 2 TCF of gas UGIIP will also be drilled as part of the Phase One programme probably early in 2010, subject to the availability of an appropriate drilling rig and the readiness of other wells to be drilled in the Phase Two 2010 programme. Ooraminna 2 (2 TCFG UGIIP) and Johnstone 1 (over 500 MMbbls UOIIP) or an alternative will be drilled in 2010. Details of the proposed Phase Two 2010 exploration programme are being readied to be presented to Joint Venture participants in November 2009. Various elements of the Phase Two programme are subject to Joint Venture approval and various elements are part of the Northern Territory Regional Development, Primary Industries, Fisheries and Resources (RDPIFR) minimum requirements. With 270,000 km ² of tenements in a mix of applications and granted permits, Central Petroleum is the Operator of the largest prospective hydrocarbon acreage in Australia, with a portfolio that includes the majority of the Pedirka and Amadeus Basins, all of the known Lander Trough north of Alice Springs, and over 25,000 km ² of the Southern Georgina Basin in far west Queensland. The Company also has announced the successful granting of approximately 15,000 km ² of permits under the Mining Act of the Northern Territory largely co-incident with the Company’s existing Pedirka Basin permits and applications under the Petroleum Act of the Northern Territory.


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## adobee (9 November 2009)

Market may not run off this today but should definetly see some interest move to CTP as the first spud date draws closer ...  If good news there over next 5 months should be interesting .. Lets see what the first hurdle brings ..


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## adobee (16 November 2009)

CTP has today annouced Exploration program and also that they will be embarking on a tree planting program ...

Go green go CTP..


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## nazzysmith (17 November 2009)

Can anyone suggest what happened here.

CTP check under google finance asx:ctp

On the 12th november 12.48pm

14,300 shares where sold for 0.015 (should have been 0.15)

maybe a brokers typo

Therefore if you bought them 

14,300 shares for $214.50

Worth $2145 seconds later.

TT


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## adobee (18 November 2009)

FROM RAW ANNOUCEMENT (RAWSON RESOURCES FPO )

A 100 kilometres 2D seismic survey program will be conducted in the
Simpson East and Madigan prospect region in the EP97 permit in the
Pedirka Basin (NT). The cost of this programme will be paid for by
Central Petroleum Limited (Central) as part of a farmin in the Bejah
Block of EP97. Seismic will be run in late 2009. A well will be selected
from the results of this seismic. The potential speculated recoverable
resources in both the Madigan and Simpson East prospects are large
(greater than 10 million barrels) as the structures are large. The
Company will have a 20 percent free carried interest in this program.


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## adobee (18 November 2009)

Read this quote on ctp today:

*Its a bit like having a controlling interest in Iraqi Oil and somehow not being a billionaire. *

http://graemebird.wordpress.com/200...be-the-most-undervalued-company-in-australia/


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## adobee (21 November 2009)

Watched a great documentary on ABC titled "Addicted to Money" the other night about China and the new green economy for the world. Of particular interest was there new nuclear power stations and technology which once perfected they think they will build 300 + to power china. Interestingly they use Helium gas to cool the nuclear components which are housed in small graphite balls. With the use of Helium and this graphite ball technique there seems to be no chance of melt down and a pretty simple set up compared to old school water cooling and 100tonnes of concrete etc..  If helium becomes the gas of choice this could be rather positive for the boys at CTP and there counterparts in the central australia region..


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## adobee (25 November 2009)

Very little interest in CTP at the moment which is really surprising considering they spud in first week of December. .. 

I am continuing to pick up options whilst keeping average price just below 8c..  Dumped just about everything else to get geared up on this one so fingers cross there is some gas in that ground !

BKP ISIS due out any day which should give some update info on the area just intime for a lead into the drilling ..


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## adobee (26 November 2009)

*FROM ROG*
COAL P0TENTIAL EXPLORATION TARGET SIZE‐PEDIRKA BASIN
Reference is made to the presentation lodged by Red Sky Energy Ltd (“Red Sky” or “The Company”) on 23rd November 2009. The Company wishes to expand and clarify upon the slide within this presentation entitled “Pedirka CSG Play” in which reference was made to an estimate of in excess of a
trillion tonnes of coal above 1,000 metres in the Central Petroleum Limited permits into which Red Sky is farming.
The Company wishes to clarify that this commentary is based upon and should be viewed within the context of the independent consulting geologist’s report prepared by Al Maynard and Associates Pty Ltd and released to the market by Central Petroleum Limited on 19 February 2009. This report
concluded that there is an *“Exploration Target Potential” within the petroleum permits for 1.1 to 1.4 trillion tonnes of coal less than 1,000 metres below the surface, at an as yet unspecified coal quality although drilling results to date indicate the coal generally being sub‐bituminous in rank. *The petroleum permits target potential range below 1,000m of a further 0.7 to 0.87 trillion tonnes of coal. It further stated that the potential quantity and quality is conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will eventually result in the determination of a Mineral Resource.


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## adobee (26 November 2009)

Came across this on another forum and found it very helpful / interesting for a non industry person with interest in this sector .. You may also find it helpful.. Cheers..

Parts of the drilling rig and how it works..
*http://www.prymeoilandgas.com/multimedia/index.html*

Other info on oil & energy
http://www.prymeoilandgas.com.au/learning.htm


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## adobee (26 November 2009)

*HELIUM PLAY MOVES FORWARD*

_GRAB FROM ANNOUNCEMENT TODAY_

Central Petroleum announced today it had appointed Brisbane based M.E.T.T.S.- Infrastructure Development and Resource Management, to examine the potential for the early monetisation of relatively low volume helium extraction and transport to market, subject to discovery success, at two key helium prospective tenements south of Alice Springs.

Central Petroleum has estimated that the Mt Kitty and Magee prospects could host up to *200 BCF (billion cubic feet)* of helium in UGIIP (Undiscovered Gas Initially In Place) at a time when helium is a commodity in shrinking supply.” Mr Heugh said the average price in the United States of privately sold Grade A 99.9% pure helium in calendar year 2008 varied between* US$115-130 per MCF (thousand cubic feet).*


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## adobee (1 December 2009)

Drilling starting this week.. Daily updates expected. .. 

Here come the buyers. ...   Should see some movement here in..


----------



## Datsun Disguise (1 December 2009)

adobee said:


> Drilling starting this week.. Daily updates expected. ..
> 
> Here come the buyers. ...   Should see some movement here in..




Didn't you see Trader Pauls post? No action till January, so might as well cool your heels till then....



> Hi folks,
> 
> CTP ..... looking further ahead, should be booming in early-January 2010,
> as a significant and positive time cycle is due to slot into place, on:
> ...




That should time nicely for me as I'm expecting EGO to give some good results on the Gingin prospect within the fortnight, roll those profits into CTP before end of December and that should take care of the mortgage! All before Easter.

been a bit of action around recently which may have distracted punters from CTP. Seems peeps are waiting until much deeper into drilling programs (even waiting for results) before jumping in for the spud. Lets see if CTP follws the script.

Good stuff.


----------



## acfnais (1 December 2009)

Technically, CTP is upgraded to strong buy now with the 0.22 target price in six months. Looks like good time to get in.


----------



## adobee (2 December 2009)

Datsun Disguise said:


> Didn't you see Trader Pauls post? No action till January, so might as well cool your heels till then....
> 
> 
> 
> ...





Your kidding yourself.. The action will be from 6th December onwards with this one..  We are ready seeing people coming back in hoardes so as not to miss out ... the action is in the sizzle ...  

Remember the market cap of this includes a huge amount of cash$$ ($30-$40mill from memory)..


----------



## adobee (2 December 2009)

Pattersons have a new report / update out on CTP..  rates as SPEC BUY..
Check website for more details..


----------



## Datsun Disguise (2 December 2009)

adobee said:


> Your kidding yourself.. *The action will be from 6th December onwards with this one..  *We are ready seeing people coming back in hoardes so as not to miss out ... the action is in the sizzle ...
> 
> Remember the market cap of this includes a huge amount of cash$$ ($30-$40mill from memory)..




So are you issuing a challenge to Trader Pauland his astro analysis? I'll watch with interest as reputations are put on the line......

Cash is about the $35m mark, they also have about $73m availabe in a debt facility as well, so no danger of them runnig out of puff in the short term, mind you that's a lot of territory to survey and drill, they might end up needing it if they aren't successful immediately. Market cap is about the $90m mark. PLenty of scope for sp growth with results.


----------



## adobee (2 December 2009)

Datsun Disguise said:


> So are you issuing a challenge to Trader Pauland his astro analysis? I'll watch with interest as reputations are put on the line......
> 
> Cash is about the $35m mark, they also have about $73m availabe in a debt facility as well, so no danger of them runnig out of puff in the short term, mind you that's a lot of territory to survey and drill, they might end up needing it if they aren't successful immediately. Market cap is about the $90m mark. PLenty of scope for sp growth with results.




I think my reputation can only go upwards... however I am saying *6th DEC 09 *is the date to be in buy ..

(Currently holding 500k ctpo)


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## adobee (3 December 2009)

http://www.finnewsnetwork.com/Displ..._021209.flv|Int_CentralPetroleum_H_021209.flv

 Interview with JH


----------



## Datsun Disguise (3 December 2009)

JH certainly showed some foresight back in 98 buying up acreage when oil was cheaper than water (actually it still is if you consider the bottled type).

I remember looking at CTP a year or so ago and being blown away by the acreage and some of the potential reserves they were targetting - if they can start producing early enough to fund what would be a massive expoloration program this could turn into a giant.

not holding yet - but planning to.


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## Out Too Soon (3 December 2009)

Buy @ .135 Sell @ .17   (again) 


Disc: sold again yesty & have Buy order in place again (next time hold to .22 I think )


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## ChrisV80 (3 December 2009)

Latest ASX announcment as of today contains a Finance News Network interview with CEO John Heugh in which he states "_weve got a drilling program starting imminently; we are due to spud the first well tomorrow or the next day_"

So I dont know where the not until January info is coming from as it appears to be happening now.

Anyway I bought in the other day at 0.135 with the intention to sell at 0.170 for a bit of short term profit but I will be holding these a little longer as things look interesting. 

Chris


----------



## Datsun Disguise (3 December 2009)

ChrisV80 said:


> So I dont know where the not until January info is coming from as it appears to be happening now.
> 
> Chris




I was just having a crack at adobee, the january stuff was posted some time ago by Trader Paul who uses some sort of tea leaf gazing to identify when there will be positive sentiment toward one stock or another. 

No doubt there will be some action during the drilling and if successful then January could well boom as everyone gets a case of optimism following NYE. 

Hopefully there is a pull back and out to soon wasn't, well, you know. 

(But not to worry still better than me having never been in! )


----------



## adobee (4 December 2009)

nice to sel MEL going for an almost 100% run on the back of a major gas discovery in NSW.. Wait till the market sees what CTP has when the talk about major discoveries ..


----------



## Dangerous (5 December 2009)

adobee said:


> nice to sel MEL going for an almost 100% run on the back of a major gas discovery in NSW.. Wait till the market sees what CTP has when the talk about major discoveries ..




I tend for a focus strategy.  I had HGO from 12c and then focused on MEL.  I am thinking of taking out my initial investment in MEL and putting it in CTP.

I have been researching the history of the oil and gas industry of late and am no longer concerned about the distance from mkt.

Next to no landholder issues will be a MASSIVE plus should they one day get to development stage.

Does anyone have concerns about this stock?


----------



## Trader Paul (5 December 2009)

Trader Paul said:


> Posted 26102009:
> 
> Hi folks,
> 
> ...






Hi folks,

CTP ..... as requested, here's some astroanalysis on this 
stock, over the next few months ..... 

..... some consider the CTP management an inept bunch and
failure of the Merlin float in a raging bull, oil market 
proved that fact, beyond any shadow of doubt .. !~!

However, management aside, we cannot ignore the signals, 
that the natural time cycles are producing for CTP ... !~!

Last Friday's news came in on time and over the next few
months, we expect more positive news to emerge, especially
around:

   18122009 ... minor and positive spotlight on CTP

23-24122009 ... minor aspect ... finance-related ???

04-08012010 ... CTP should be hot and booming !~!

15-18012010 ... 2 minor time cycles combine - finances ?

   09022010 ... positive cycle ... finance-related ???

   16022010 ... major spotlight on CTP  

2602-01032010 ... major & positive news expected here ... 

   05032010 ... minor cycle

16-18032010 ... 2 minor time cycles to bring more news.

29-30032010 ... minor and positive aspect ... finances ???

3103-01042010 ... minor cycle = more positive news ... ?

..... more later.



=====


----------



## Miner (5 December 2009)

Trader Paul said:


> Hi folks,
> 
> CTP ..... as requested, here's some astroanalysis on this
> stock, over the next few months .....
> ...




terrific posting.
Another one with no astro chart or analysis, no financial chart or analysis but a sure sign of ramp up just such predictions were posted for BCC and it went south. So in a way this astro results without back could be a sign of some one trying to unload his or her holding too. 

Good luck


----------



## adobee (7 December 2009)

*Central Petroleum Spuds CBM93-004 Well In EP-93, Australia
Published: 04-Dec-2009*

Central Petroleum Limited (Central Petroleum) has announced that Wallis Drilling Rig DS39 spudded CBM93004 at 1445 NTST, the first well in a five well fully cored coal seam gas exploration. CBM93-004, the first of the initial five wells, is located in EP-93 directly updip about nine kilometers north of CBM93-001 drilled in 2008. The well will target the Permian Purni Formation coals which have been regionally mapped using seismic data coverage and data from previous wells.
The well is located on seismic line CB08-01 at VP 2778 and the location is 7249212.0 North, 585855.0 East.

The top Permian Purni Coal in CBM93-004 is prognosed at 550mRT with a gross thickness of 420 meters. The prognosed TD is 1020mRT. The prognosed coal seam thickness (in seams >2m thick) at this location is 80-90m. CBM93001 drilled last year 2008, intersected over 140 meters of net coal over 20 centimeters in thickness.

Heavy equipment has arrived on site for line clearing of the Johnstone EP 115 oil prospect survey and line clearing is expected to commence this weekend.


_http://oilgasexploration.energy-business-review.com/news/central_petroleum_spuds_cbm93004_well_in_ep93_australia_091204/_


----------



## adobee (7 December 2009)

Trader Paul said:


> Hi folks,
> 
> CTP ..... as requested, here's some astroanalysis on this
> stock, over the next few months .....
> ...





wow.. i think pretty highly of JH. No bull delivers what he says when he says.. makes an effort to get in the media the week before first spud and generate some more market interest.. taken the time and effort to slowly and quietly build up biggest land holding in NT..  available on the phone for a chat if you want to know more information..    Stating what he will do and then doing it .. Thats good management to me..


----------



## Out Too Soon (7 December 2009)

Miner said:


> terrific posting.
> Another one with no astro chart or analysis, no financial chart or analysis but a sure sign of ramp up just such predictions were posted for BCC and it went south. So in a way this astro results without back could be a sign of some one trying to unload his or her holding too.
> 
> Good luck




Trader Paul (Yogi in Oz) isn't always right but always sticks his neck out with short & long term predictions that have often surprised in there accuracy. So don't knock him, he's not a ramper just someone with yet another way to trade the markets that seems to work for him


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## adobee (7 December 2009)

I think that there could be alot of people who were trying to trade ctp this morning.. jumped in early on the annoucement figuring there would be a strong run and are now trying to jump out before the day end (or have been since about 11.30) ..  Should see a flow of annoucements out herein but couple of weeks to get some results.. Not sure if the drills stop for Christmas and New Year ?


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## adobee (9 December 2009)

*Great address from the chairman today ..*

CHAIRMAN’S ADDRESS Fellow Shareholders, Before we start with today’s formal agenda, I will take the opportunity to outline your company’s present operations and provide some background to our current circumstances. Firstly and of course of immediate interest is the Coal Seam Gas (CSG) drilling campaign that commenced as promised a few days ago with the spudding of CBM 93-004. This well is located on the published seismic line CB08-01 some 9 km north and updip of well CBM 93-001 drilled last year. You will not need reminding that this well intersected 140m of net coal, and along with the similar result of Blamore-1 has evidently established the probable presence of a major coal province. Being updip, the top Permian coal is prognosed at the shallower level of 550m BRT with a net thickness of 80-90m. As of 0900 this morning the well has reached a depth of 250m in the MacKunda Formation and preparations were being made to cement 7” casing prior to drilling ahead. This is the first of five wells to be drilled in this sequence, the objective being two fold. Firstly we need to better establish the distribution and extent of the coals so that tonnage estimates can be improved. Secondly we need to determine the gas content of the coals for estimates of contingent resource volumes, which is why the coal interval is being fully cored to and analysed to CSG industry standards. If gas levels are sufficiently high, then development need not necessarily be unduly delayed since CSG production techniques have become more or less routine. Even so it is the case that the energy locked in the coal itself is perhaps an order of magnitude greater than that of the adsorbed gas even in the best of circumstances. Central Petroleum is therefore investigating the conversion of coal to liquid fuels either indirectly via the production of syngas, namely underground coal gasification (UCG) or directly by underground coal liquefaction (UCL). This is justified by the economics that indicate maximum added value is thereby obtained, given the relatively low price prevailing for pipeline gas in contrast to the USD80-90 per barrel price for synthetic diesel, a price that will almost certainly be higher in future. I must stress that these opinions are those of your company alone and do not necessarily represent the views of the collective Joint Venture. Before moving on to the seismic, I should mention the conventional gas appraisal well Ooraminna-2. This well will test an established gas discovery and while remaining classified as part of the Phase 1 program its drilling has been postponed and incorporated into the Phase 2 operations. This well was pre-approved as a condition to the original PXA farmin agreement, but mobilisation
and demobilisation costs to bring a rig to the area for a single well are prohibitive. Addressing now the seismic, I can advise that line clearing for a program of approximately 1400 line kms also commenced several days ago. Again there are two objectives, firstly to refine the definition of structures currently planned to be drilled in the Phase 2 program, including such wells as Johnstone (oil), Magee (helium), Surprise (oil), Madigan (oil) and others. I note here that Johnstone has been approved in principle by a Joint Venture vote, since EP115 has Trident as a participant as well as PXA/BG. Similarly the Magee and Mt. Kitty helium prospect areas do not involve PXA/BG as a participant. I trust this clarifies the issues regarding the drilling schedule. The second objective of the seismic is quite simply, to quote a well known introduction, to boldly go where no one has gone before. We have a huge acreage which in my opinion (and others I hasten to add) is extraordinarily prospective and over which there is little to no seismic coverage. No doubt some of the wildcat seismic will not uncover a major structure, but some very likely will. The “Surprise” oil prospect emerged from just such reconnaissance lines in the last survey, and is therefore aptly named. Concerning the final details of the Phase 2 program, I should also say that all the proposed activities are yet to be approved by the relevant Joint Venturers, for which purpose Operating Committee Meetings are scheduled over the following days. Stepping back from operational items, we come to one of the key issues, and that concerns the Joint Venture relationships flowing on from individual participant aspirations. I have said before and I will say again, Central Petroleum even though operator and major equity holder does not necessarily call the shots in the joint ventures. Industry standard Joint Venture Operating Agreements (JVOA’s) generally specify that an affirmative vote requires a minimum vote level which includes at least two parties. The intention is that in a two party Joint Venture, the minority partner is not without a voice in operational decisions, but in practice it imposes unanimity. JVOA’s are legally binding contracts, and one party cannot act alone in the absence of an affirmative vote. On the other hand, in a Joint Venture comprising three or more participants, industry standard agreements are such that if two parties with sufficient equity execute an affirmative vote, then the minority parties who may be in dissent usually have the option of non-consent. Again generally speaking, this option is not usually available in the case of obligatory work commitments to Government or in special cases where the work is a requirement to earn equity by way of farmin. I do not specifically refer to the JVOA prevailing in our circumstances, but do note that it is not out of keeping with industry norms. When it comes to the dispute with PXA/BG concerning the Red Sky (ROG) farmin, I am at liberty to refer to the original farmin agreement which specifically states that it is not a confidential document. In this document (as amended) there is inter alia provision for Central Petroleum to assign up to 20% equity in
the broad acre Joint Ventures to any alternative entity while not being subject to pre-emptive rights of existing participants up to and including 30 September 2009. In fact the agreement with Red Sky was executed as a binding commitment on 30 September 2009, the validity of which has been disputed by PXA/BG, which dispute is now subject to present arbitration proceedings. Your company believes that ROG will bring valuable technical expertise relating to CSG, UCG and UCTL technology to the Joint Venture, and it is the Company’s view that the farmin is valid. One may only speculate as to why PXA/BG oppose the farmin, but the position may be influenced by the affirmative vote requirements embodied in industry standard JVOA’s. Formal arbitration proceedings have been commenced but due to the Christmas/New Year holiday adjournments the issue may not be finally resolved until perhaps February at the latest. Considering that our Phase 1 operations will still be in progress at this time, this is not seen as an impediment to progress. Finally, when all else has been said, let us comment on the weather. Last year we had a heavy rig deep in the Simpson Desert. To get in there and out again it had to cross flood prone areas (the Hale River floodout for example) which could have seen it immobilized for weeks at company expense. This year we are dealing with a much lighter rig supported by eight wheel drive transport and hence are much less vulnerable. Furthermore, the Ooraminna location is not subject to flood constraints, being as it is about a one hour drive towards the Santa Theresa mission from Alice Springs. I am also informed that the Johnston location in the Amadeus is not particularly flood prone either. So whereas last year we were at risk, and indeed rains came shortly after Hunt Rig 2 was stacked on the blacktop highway at Kulgera, in the current and next drilling operations we are not expecting any significant problems. One of course should never conclude without a comment on the oil price. Crude finished last week at a seven week low (quoting the SMH), varying according to grade from USD75 to USD77 per barrel. Chevron is forecasting prices in the USD90 range in 2010, but perhaps they won’t be any more on target than some of my previous estimates. Nevertheless it is hard to see a circumstance whereby it dips significantly below USD70 with an upside of USD 90 to 100 in the next 12 months. Which quite apart from our oil prospects would make a CTP syncrude project very attractive indeed. And now to the business at hand.


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## adobee (17 December 2009)

CTP has taken a 12% stake in MHL ..   interesting move, will look forward to some news from JH with some sort of explaination or otherwise a big jump in MHL shares  ...   could get some extra interest in CTP from people considering both companies..  strange move from Northern Territory to  the Kyrgyz Republic.   I will leave it to JH .. i invest my money here cause i count on him knowing more than me ..


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## adobee (17 December 2009)

*FARM‐IN DISPUTE RESOLVED*
Red Sky Energy Limited (ASX: ROG) (“Red Sky” or “the Company”) advises that it has reached further
agreement with Petroleum Exploration Australia in relation to the 10% Broadacre farm‐in executed on
30th September 2009 between Red Sky and Central Petroleum Limited (ASX: CTP). This now entitles
Red Sky Energy the right to acquire a 10% interest across all Central Petroleum’s permits, subject to
meeting agreed contributions to work program expenditure.


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## Propagate (18 December 2009)

adobee said:


> *FARM‐IN DISPUTE RESOLVED*
> Red Sky Energy Limited (ASX: ROG) (“Red Sky” or “the Company”) advises that it has reached further
> agreement with Petroleum Exploration Australia in relation to the 10% Broadacre farm‐in executed on
> 30th September 2009 between Red Sky and Central Petroleum Limited (ASX: CTP). This now entitles
> ...




Forgive me if this is a stupid question, I am very new to this still - I hold some CTP shares, is the above agreement a good or bad thing for CTP as far as effect on share price is concerned?

Thanks.


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## adobee (18 December 2009)

In my opinion this is very good..   

a) We (CTP) stop spending money on legal fees and wasting time disputing contracts with British Gas who could have stretched legalities out for years if they really wanted to cause they are a big gorilla

b) ROG starts doing the work for CTP and spending there cash on our tenements .. CTP gets carried on the projects pretty much cost free

c) ROG like CTP has an all star CEO so it is good to work with them

d) Drilling moves ahead faster & quicker, we see more results faster and quicker we share price movement faster & quicker


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## Propagate (18 December 2009)

adobee said:


> In my opinion this is very good..
> 
> a) We (CTP) stop spending money on legal fees and wasting time disputing contracts with British Gas who could have stretched legalities out for years if they really wanted to cause they are a big gorilla
> 
> ...





Thanks for explaining that for me adobee. Much appreciated. I like the sound of faster & quicker results!

Cheers.


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## Bigukraine (30 December 2009)

adobee said:


> In my opinion this is very good..
> 
> a) We (CTP) stop spending money on legal fees and wasting time disputing contracts with British Gas who could have stretched legalities out for years if they really wanted to cause they are a big gorilla
> 
> ...



Hi adobee,

Look i am holding this stock but the ann about "clarification" on the rog ann by
ctp mgt is starting to wear a bit thin with me . I understand that the way rog 
worded it's ann was a bit gun ho but you think rog and ctp " all star mgt" would use a thing called a telephone before both of their ann and straighten things out!!!! Both of them are trying to work a huge area for huge gain (with luck) and after the last crap between the two would like to see them grow up stop waisting our money on legal crap and get on with giving us shareholders some results !!!!!!


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## adobee (1 January 2010)

Bigukraine said:


> Hi adobee,
> 
> Look i am holding this stock but the ann about "clarification" on the rog ann by
> ctp mgt is starting to wear a bit thin with me . I understand that the way rog
> worded it's ann was a bit gun ho but you think rog and ctp " all star mgt" would use a thing called a telephone before both of their ann and straighten things out!!!! Both of them are trying to work a huge area for huge gain (with luck) and after the last crap between the two would like to see them grow up stop waisting our money on legal crap and get on with giving us shareholders some results !!!!!!




the clarrification of this is very important.. i hold both but substanially more CTP and it needs to be clear what projects that Rog can get on and what they are required to spend..   I think you will find that the difference here between ctp and many other miners / explorers is that the directors are very experienced in mining and as such are keener to ensure all is set up correctly to maximise the final results for the company, they know mining and gas they are not stockbrokers who have started a mining company and looking to make a market sensitive announcement every week to pump the shares.. JH is working on a new BHP not a new FMG .. (just my feelings anyway).. Holding 750k CTPO and still buying below 8c .. BRING ON 2010 !


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## ectoplasm (1 January 2010)

I note quite a bit of activity on this thread & other forum are also discussing CTP. Not sure about the fundamentals but the chart looks ready to pop ~ perhaps monday will retest support (depending on reaction to DOW)

Daily chart - looks pretty good IMO


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## Trader Paul (3 January 2010)

Trader Paul said:


> Hi folks,
> 
> CTP ..... as requested, here's some astroanalysis on this
> stock, over the next few months .....
> ...






Hi folks,

Happy New Year 2010 ... !~!

CTP ... as per post above, we expect this one to
breakout strongly, later this week ... 

Happy trading to all, in 2010 ... !~!

have a great day

paul



=====


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## mickyj (3 January 2010)

hey yogi hope your right! lol hopefully see an annoucment with some results this week! how much movment are you predicting?


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## adobee (5 January 2010)

ectoplasm said:


> I note quite a bit of activity on this thread & other forum are also discussing CTP. Not sure about the fundamentals but the chart looks ready to pop ~ perhaps monday will retest support (depending on reaction to DOW)
> 
> Daily chart - looks pretty good IMO




You may be interested in this stoxline T/A 

http://au.stoxline.com/q_au.php?symbol=ctp&c=ax&Analysis=Analysis

_CTP.AX has closed below upper band by 9.9%. Bollinger Bands are 42.9% narrower than normal. The narrow width of the bands suggests low volatility as compared to CTP.AX's normal range. The bands have been in this narrow range for 1 bars. This is a sign that the market may be about to initiate a new trend. _


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## adobee (5 January 2010)

So Geoff Albers of the Albers Group a substanial share holder has dropped a bundle of shares..

It looks like Geoff has been selling a bit recently also in Gas to Grid and Moby Oil.. I am not sure if they are investors or traders or what..  why they would sell now I am not sure ? seems a bit off to me ..


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## lukelee (5 January 2010)

adobee said:


> You may be interested in this stoxline T/A
> 
> http://au.stoxline.com/q_au.php?symbol=ctp&c=ax&Analysis=Analysis
> 
> _CTP.AX has closed below upper band by 9.9%. Bollinger Bands are 42.9% narrower than normal. The narrow width of the bands suggests low volatility as compared to CTP.AX's normal range. The bands have been in this narrow range for 1 bars. This is a sign that the market may be about to initiate a new trend. _




nice site! Thanks
so the overall is strong buy, isnt it?
Adobee, have you found the reason why Geoff droped the shares?


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## lukelee (6 January 2010)

adobee said:


> You may be interested in this stoxline T/A
> 
> http://au.stoxline.com/q_au.php?symbol=ctp&c=ax&Analysis=Analysis
> 
> _CTP.AX has closed below upper band by 9.9%. Bollinger Bands are 42.9% narrower than normal. The narrow width of the bands suggests low volatility as compared to CTP.AX's normal range. The bands have been in this narrow range for 1 bars. This is a sign that the market may be about to initiate a new trend. _




is this site any good? the ctp was strong recommended yeasterday, and it is recommended today. changed in 1 day?


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## Bigukraine (6 January 2010)

lukelee said:


> is this site any good? the ctp was strong recommended yeasterday, and it is recommended today. changed in 1 day?




hi lukelee,

If you hit the "whats this" in the star rating box it will give you an example chart(could be of anything) to show you how the star rating works. The rating is fluid dep. on the buy-sell . you'll understand when you see it.


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## ectoplasm (6 January 2010)

Hi Trader Paul & others,

CTP had a nothing day today, but like Paul I am expecting a big move in CTP soon (the Bollinger Bands are tight) and some indicators are looking good. It has tested support one more time (as suggested in my post of 1/1/10), and I'm just wondering if the* "10.01.06 CTP Exploration Update"* will make it " hot and booming" (to quote Paul). I see there were "significant  thicknesses of coal (thicker than anticipated)" ~ should purk the price up a bit. 

Daily chart: price action is sliding sideways but respecting support...


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## lukelee (7 January 2010)

I want to long term hold ctp.
Can anyone tell me who are ctp's competitors? and where can I find their information?


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## adobee (12 January 2010)

lukelee said:


> I want to long term hold ctp.
> Can anyone tell me who are ctp's competitors? and where can I find their information?




I dont think competitors are a problem.. if anything they will hopefully consider CTP a taker over target. At this stage it all hinges on CTP actually having some valuable assets in the ground..  They have today annouced the spudding of the second hole of a five hole drill. ..  If the facts come up trumps then we could see some strong interest in ctp .. if the drill doesnt hit the target there a plenty more targets but we will be holding long term to see some $$$ .. Fingers crossed for results and $$$ in the coming weeks.. This is high risk high return !


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## ectoplasm (12 January 2010)

adobee said:


> They have today annouced the spudding of the second hole of a five hole drill. ..  If the facts come up trumps then we could see some strong interest in ctp .. if the drill doesnt hit the target there a plenty more targets but we will be holding long term to see some $$$ .. Fingers crossed for results and $$$ in the coming weeks.. This is high risk high return !




Hi adobee,

Beats me how CTP has not performed: 3x price sensitive announcements in the last month, seems to have found a base (just tested the lower BB and held), here is hoping it gives the upper bollinger band a workout later this week.

*Daily chart looks good* IMO: I could say that CTP has just broken out and completed the retest but I won't know for sure until I see that upper bollinger band is pealing back like an orange...


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## lukelee (13 January 2010)

I have bought the stock for half year, but seems it remains between 0.14-0.15.
people saying it has a large oilfield


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## Bigukraine (13 January 2010)

lukelee said:


> I have bought the stock for half year, but seems it remains between 0.14-0.15.
> people saying it has a large oilfield




lukelee,
Read this whole thread mate from start to finish and you should get a good handle on what you have bought. DYOR as i and most holders of this stock have and you will see the potential and like all holders we are wating for the drill results.


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## adobee (13 January 2010)

lukelee said:


> I have bought the stock for half year, but seems it remains between 0.14-0.15.
> people saying it has a large oilfield




Brother jackson how quick do you expect it to go up !?!! You want make 10000% in a week ?

Its all happening with this one right now... trust me it wont remain betwen 14 & 15c once the results are out for or five wells it will either give big profits or big loses...   I am holding options only to increase the exposure ... Fingers Crossed on this I want to buy a house with my winnings !


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## lukelee (14 January 2010)

adobee said:


> Brother jackson how quick do you expect it to go up !?!! You want make 10000% in a week ?
> 
> Its all happening with this one right now... trust me it wont remain betwen 14 & 15c once the results are out for or five wells it will either give big profits or big loses...   I am holding options only to increase the exposure ... Fingers Crossed on this I want to buy a house with my winnings !




If i expect to make 10000% in a week, why do I keep the stock for half year? just getting a bit disappointed to this stock.


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## ChrisV80 (15 January 2010)

Patience is a virtue Lukelee...

I have also been holding watching the stock not move for some time but the reason I am holding is because I am faithful that results will come, and they appear to be starting as I type.

They just made a Notice of Discovery to the NT Gov. see it from ASX website.

Anyway fingers crossed for those of us that are in that they make a major discovery, interim figures look promising.


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## lukelee (15 January 2010)

ChrisV80 said:


> Patience is a virtue Lukelee...
> 
> I have also been holding watching the stock not move for some time but the reason I am holding is because I am faithful that results will come, and they appear to be starting as I type.
> 
> ...




yeah,you are right, just be more patient! 
Let's see what does it bring to us! 
latest news:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01029394


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## Bigukraine (19 January 2010)

adobee said:


> So Geoff Albers of the Albers Group a substanial share holder has dropped a bundle of shares..
> 
> It looks like Geoff has been selling a bit recently also in Gas to Grid and Moby Oil.. I am not sure if they are investors or traders or what..  why they would sell now I am not sure ? seems a bit off to me ..




hey adobee,

Starting to frown a bit myself 275k share dump after 410pm is making me think too. Imo the "rolling bond" mob are having an effect and hence the stag. share price. Would like to see share placement's over bonds. Gives the little guy's ago and bugger the isto's and soph. inv.


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## adobee (22 January 2010)

yeah feeling a bit down on this at the moment too with lack of action and my big holding of options... gotta keep reminding myself its just going to take one good discovery.. and if there is going to be one it will be in the next few weeks...


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## Out Too Soon (22 January 2010)

adobee said:


> yeah feeling a bit down on this at the moment too with lack of action and my big holding of options... gotta keep reminding myself its just going to take one good discovery.. and if there is going to be one it will be in the next few weeks...




Don't feel down, oil & gold & the market dipping a little & todays friday was sure to frighten a few. 
  I've had a Buy in at .135 for CTP for quite a while & it just hasn't happened- maybe last thing this arvo.  I certainly hope so because I expect Monday will be a recovery day for all & CTP will take off sooner or later


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## Bigukraine (22 January 2010)

Out Too Soon said:


> Don't feel down, oil & gold & the market dipping a little & todays friday was sure to frighten a few.
> I've had a Buy in at .135 for CTP for quite a while & it just hasn't happened- maybe last thing this arvo.  I certainly hope so because I expect Monday will be a recovery day for all & CTP will take off sooner or later




 Hi outtoosoon,

you got your .135 alright all 700,000 in one hit if you wanted but in saying that i'm on the side that( optimist ) things will be better hopfully next week imo . Market was down across the board and the analist on that pay tv show
stating that their is more gas comming on line soon Gorgan gas field etc etc
which will flood the market ( lots of product re ratio to paying customers) the price could come down on gas and dmor found some sustance. anyway i'm out and pardon the pun it might be "too soon " good luck to holders


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## adobee (25 January 2010)

you got to be in it to win it .. the upside hasnt moved away from ctp at all it is just a waiting game at the moment and the wait may not be to long now ..
to get out now is like quiting the team before the superbowl because the odds arent on us..


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## Propagate (29 January 2010)

Bugger. CTP just tripped my stop at 11c. Bit gutted, as I'd forgotten I had a stop set and would have liked to hold on.

Don't know why the sudden drop though?


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## adobee (29 January 2010)

announcement out last night .. people are dumping cause the mention 1m of coal.. this is not the last hole and without the other results doesnt mean f'all in determining how much coal there is or which way it runs / where.. need the rest of the results to get the real picture.. fingers crossed we get something soon though cause I hate looking at red on my biggest holding.. Will look to get some more options though if I can round 6c ..


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## Propagate (29 January 2010)

adobee said:


> announcement out last night .. people are dumping cause the mention 1m of coal.. this is not the last hole and without the other results doesnt mean f'all in determining how much coal there is or which way it runs / where.. need the rest of the results to get the real picture.. fingers crossed we get something soon though cause I hate looking at red on my biggest holding.. Will look to get some more options though if I can round 6c ..




I figured it must have been that. I read the report, not knowing much about coal seams, but figured 1m was pretty lousy.

When you say 6c options, do you mean you have a previous option form the company to buy in at 6c, or re you expecting them to fall to 6c? (sorry - newbie).

Not sure when to by back in myself, by in now for what they tripped at 11c or wait and see if they drop a little more. The trouble is, if I wait they might not drop any more then if I want to buy back in I'll be looking at 14c again.

If there were prizes for buying at a peak and selling at a low, I'd be world champion.

I think I am going to can my trailing stops though, they are costing me a fortune! I am new to share dealing and generally flowing a tip sheet at the moment but my stakes are small in each case. It makes it more costly to trip on several stops than hold through them and maybe lose one or two holdings completely.

It's really frustrating seeing your shares trip, just to see them come back to the original buy-in levels within hours, then climb. Psychologically, once it's tripped it really difficult to decide to buy in again, cementing that tripped loss.

I have a lot to learn.

Cheers.


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## ChrisV80 (29 January 2010)

Same problem here.. my stop loss kicked in at 0.11 ! do I buy back in or not.. depends if I am up for a gamble or not I guess !!


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## adobee (29 January 2010)

Its a gamble.. more holes to be dug.. we know there will be coal but how much!?  If its good its going to be really good and if its bad its going to be awful.. i think today was hit hard due to the announcement and market sentiment / fear as a hole..  

I am sticking with it .. currently I am substanially down but I think it will come up with the goods and at the risk of loosing a big  chunk ..  The key here is that I feel like I should sell like the rest of the market which means on my track record I should be buying .. if xao falls down past 4300 then i will start to sht myself !


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## Bigukraine (29 January 2010)

adobee said:


> Its a gamble.. more holes to be dug.. we know there will be coal but how much!?  If its good its going to be really good and if its bad its going to be awful.. i think today was hit hard due to the announcement and market sentiment / fear as a hole..
> 
> I am sticking with it .. currently I am substanially down but I think it will come up with the goods and at the risk of loosing a big  chunk ..  The key here is that I feel like I should sell like the rest of the market which means on my track record I should be buying .. if xao falls down past 4300 then i will start to sht myself !




Hey adobee if its any consolation when it nears 4320 i'll post you out a 6 pack of toilet paper :topic you'll need the extra for bmy :horse::flush::flush:


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## lukelee (30 January 2010)

latest quarterly report just released, wish it could explain why the sp drops:
http://www.asx.com.au/asxpdf/20100129/pdf/31nfx6z60zct84.pdf


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## adobee (10 February 2010)

bit of a roller coaster last couple of weeks.. good too see some other people are still buying and expecting the best ..   options are good to 2014 ..  I will wait for the news ..  this is my long term money ..



Off topic.. 
BMY still a dog.. moving my short term monies into ADI .. so watch out ADI holders and expect the worst !


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## Miner (10 February 2010)

adobee said:


> bit of a roller coaster last couple of weeks.. good too see some other people are still buying and expecting the best ..   options are good to 2014 ..  I will wait for the news ..  this is my long term money ..
> 
> 
> 
> ...




Hi Adobee

Could you please enlighten why you made reference to ADI in the CTP thread, its correlation and a bit sharing of your thoughts backed by fact and data,  if you indicated the  shareholders holding ADI, BMY, or CTP  will have worst time.


.


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## luap77 (10 February 2010)

Think it's tongue-in-cheek mate. No need for concern.

Ignore the rest of this post
Typing to reach the One hundred character limit.


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## adobee (12 February 2010)

Miner said:


> Hi Adobee
> 
> Could you please enlighten why you made reference to ADI in the CTP thread, its correlation and a bit sharing of your thoughts backed by fact and data,  if you indicated the  shareholders holding ADI, BMY, or CTP  will have worst time.
> 
> ...




Sorry for the concern Miner.. Not trying to alarm you .. Stating that I am buying some more ADI shares which I think are looking very good at the moment but the majority of stock I have been buying of late tanks once I get in.. (Tongue in Cheek)..

That being said at last some good news out of CTP today and some huge targets being mentioned.. As per usual with this one it is a waiting game for some results before we see any upside.


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## Miner (12 February 2010)

luap77 said:


> Think it's tongue-in-cheek mate. No need for concern.
> 
> Ignore the rest of this post
> Typing to reach the One hundred character limit.






adobee said:


> Sorry for the concern Miner.. Not trying to alarm you .. Stating that I am buying some more ADI shares which I think are looking very good at the moment but the majority of stock I have been buying of late tanks once I get in.. (Tongue in Cheek)..
> 
> That being said at last some good news out of CTP today and some huge targets being mentioned.. As per usual with this one it is a waiting game for some results before we see any upside.





Thanks guys. 

I think my sense of humour (Head) is getting lesser and lesser with the cover  thick of mud and dirt in mines. 

I need some serious gas flow and oil to clean the dirt now (and money to buy the gas and oil too).

ADI jumped up today significantly and so CTP with good volume. But index is volatile so let us see what happens end of the day.'


----------



## Trader Paul (13 February 2010)

Trader Paul said:


> Posted 05122009 .....
> 
> Hi folks,
> 
> ...






Hi folks,

CTP ..... price up and volume up, as we approach the next significant and
positive time cycle, early next week ... see post above ..... 

have a great weekend all

  paul



=====


----------



## adobee (19 February 2010)

Trader Paul said:


> Hi folks,
> 
> CTP ..... price up and volume up, as we approach the next significant and
> positive time cycle, early next week ... see post above .....
> ...




hopefully you were a week off on your predictions and we will see a positive cycle next week.. cause this week has been a dog .. Perhaps a great entry point for any new comers out there though .. its always just one announcement away ..


----------



## adobee (24 February 2010)

wow .. nothings changes since two months ago apart from being closer to some possible great drilling results (or not so great) .. but many are loosing there nerve and dumping ..  Its tearing me apart but at this stage I am staying on the horse .. the only change from my attitude a month ago is that the results could be on a couple of days to a couple of weeks .. no much more waiting to boom time or doom time. .. those selling sub 10c  ??!?! no nerve or what .. those buying there shares thumbs up ..


----------



## Pivotonian (25 February 2010)

I'm holding on too ...

Haven't got a huge amount invested here to willing to wait it out and see what happens ...


----------



## Buckfont (26 February 2010)

Trader Paul said:


> Hi folks,
> 
> CTP ..... price up and volume up, as we approach the next significant and
> positive time cycle, early next week ... see post above .....
> ...




Well done Trader Paul,. Three announcements have come into my mail box showing lots of positivity. One that wasn`t part of the ASX announcements  was from John Heugh pertaining to Alberta, Canada being the site of a $30M. experiment to turn underground coal into syngas.

Even though it`s a year old, it was written by Gina Teel, of The Calgary Herald, dated March 17, 2009.

I shall work to learn how to send links, however I`m sure the sleuths will track this one down.

By the way T.P. is it like a company natal chart, where the D.O.B is the listing date from whence you get your `predictions`?


----------



## Datsun Disguise (3 March 2010)

Some good news starting to flow now for CTP - wirelines have come back showing 130m of coal intersected from the most recent drilling. 

I like the targets for the rest of the year and would love to see a discovery in the 5b barrels target. Once we get closer to spud dates for these targets we'll see some good appreciation. 

Smart money would be getting in at these low prices with an aim to get to a free carried position by the time the drilling starts. Could you imagine holding these when a 5b barrel discovery is made?? Nice. 

I'm holding options at around 7c average.


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## adobee (3 March 2010)

Electric log analysis completed subsequent to the Company’s last announcement on *26 February 2010 *has confirmed the presence of *130m of coal (in seams > 1m thick),* ie 10m thicker than previously reported.
This more accurate assessment, which removes any miscalculation resulting from core losses or other wellsite issues, shows that the coals encountered were* 325% thicker than the maximum anticipated pre-spud thickness *of up to 40m.


pleasant note to come back to holidays from.. at last some good news coming out of ctp but whats with the statement of 26th Feb 2010 was this made to the stock exchange at all on this date ? why can i not see it ..


----------



## adobee (10 March 2010)

Cap raising announcement this morning .. WTF is going on I thought we had the rolling bond set up and a heap of cash on hand ?


----------



## adobee (10 March 2010)

If this is in a trading halt can I still do an off market transfer to my super fund trust or do I need to wait till the trading halt is up ?


----------



## Bigukraine (10 March 2010)

adobee said:


> If this is in a trading halt can I still do an off market transfer to my super fund trust or do I need to wait till the trading halt is up ?




I don't think you can move any shares at all in a trading halt and now this gives a bit of a justification to why i went out adobee,i hope for you  that cap raise is for the right reasons and like you i thought the rolling bonds were to keep the "boat afloat". mmmmm well we will see soon enough what they want to use the money for and all i can say is good luck to all holders


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## adobee (12 March 2010)

still waiting for confirmation of whats going on ..
Newspaper is stating $22m to be raised .. will have to wait and see, not sure how the paper knows before the asx. . 

If its for extra drilling then great .. immediate effect wont be great but if it speeds up the drilling ten fold and we prove up a resource then it will have the postive affect .. I am staying loyal and putting my options into my super so I dont have to worry in the short term. ..


----------



## Datsun Disguise (15 March 2010)

29% discount to the vwap! That sounds a bit like giving the company away. I don't see the value in raising so much cash now, not when there is around $30m available already. And this all looks like deals for the mates, why haven't the ordinary shareholders been given an opportunity at this price?

CTP need around $45m for their share of the 2010 program according to the website. Sure is expensive drilling. Hope they have reason for their confidence. The market sure doesn't like the cap raising... but that might be people selling off in the expectation of being able to buy at 7.5c - I think that boat has sailed, with all the sophisticated investors aboard. Note to self - join that club.....



> *Proposed Exploration Programme 2009/10*
> The Company plans, subject to various contingencies, a robust exploration programme to commence Q4 2009 including :
> 
> *Phase One 2009*
> ...


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## adobee (17 March 2010)

still holding onto the ctpo for the mean time. . i am not sure why they couldnt have pushed ahead as is and got ctpoa over the line and cash in that way ..  Whilst very displeasing to see my price get crunched i still think if the results are there then then we will be in the money ..

There have been a few releases to date of news with a positive indication / outlook but nothing to really pump up the price, we have :

Found old Seismics which are going to save time & money 
Started making roads out to Ooraarmina 2 
Probably have some follage growing on those 1000 trees planted a few months back..

If we can come up with the goods on one drill then there is obviously going to be huge speculation about the abundance of land held .. but as yet no goods equals a share price with alot to be desired ...


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## Datsun Disguise (17 March 2010)

I think you are making the right move adobee - the story has only just begun with CTP. To jump off because of a slump in sp because of a surprise cap raising (which they need after all) is not that shmart in my opinion.

The reasons I bought in for are still solid so i still hold. simple.


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## adobee (23 March 2010)

http://www.smh.com.au/business/shell-already-looking-at-more-gas-opportunities-20100322-qr74.html

Lets hope some more market interest returns to gas ..


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## adobee (27 March 2010)

Latest news we have oil and drilling restarting following heavy rain .. Lack od detail on the oil won't move this on it's own but may bring some revived interest and energy .. Wait and see Monday at this stage ..


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## late_start (8 April 2010)

Can someone tell me what is CTPRA popping up in my portfolio?  I still haven't received any prospectus from CTP yet.  Has anyone received them?


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## Buckfont (8 April 2010)

late_start said:


> Can someone tell me what is CTPRA popping up in my portfolio?  I still haven't received any prospectus from CTP yet.  Has anyone received them?




From my correspondence prospectus dispatched today 8/4/10. 

Rights trading ceases 15/4/10

Closing date on offer 22/4/10

Securities quoted on a deferred settlement basis 23/4/10

Notify ASX of undersubscriptions 27/4/10

Despatch date/shares entered into security holdings 3/5/10


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## lukelee (9 April 2010)

late_start said:


> Can someone tell me what is CTPRA popping up in my portfolio?  I still haven't received any prospectus from CTP yet.  Has anyone received them?




Same question here, what is CTPRA? and the qty of CTPRA is half of the qty of ctp that i have. seems CTPRA started a few days ago.


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## Buckfont (9 April 2010)

lukelee said:


> Same question here, what is CTPRA? and the qty of CTPRA is half of the qty of ctp that i have. seems CTPRA started a few days ago.




lukelee, if you have CTPRA popping up in your p`folio, as I did, you`re obviously a s`holder, and it`s to do with the renounceable offer of the one share offer to two held.

This notice was sent out on on 19/3/10. See my last post.

CTPRA automatically popped in my p`folio and just waiting for the prospectus.

Bit of a tight time frame though.

Hope this helps.


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## Sharejon (12 April 2010)

Hey Buckfont (and any other users who are aware of this information), I bought CTP shares yesterday and I'm wondering whether this entitles me to the 7.5c share issue (and 1 bonus share per 5 shares purchased offer). Or did you have to own the share by April 8 (when the offer was apparentally sent out). The offer has not closed yet so I'm not entirely sure where I stand.

Thanks,
S


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## Sharejon (12 April 2010)

Additionally are there any strings attached with the share purchase?

or is it simply you buy CTP shares at 7.5cents and get a free share for every 5 shares purchased. I've noticed the mention on other forums about CTPRA being the rights shares?

So are the rights shares issued essentially a different stock to the standard CTP shares? (and hence does not follow the trends which normal CTP shares follow).

Or are the shares you can purchase with the rights issues just normal CTP shares?

I'd very much appreciate some insight into this question and the one above. thanks .


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## Buckfont (12 April 2010)

G`day Sharejon

Got my prospectus today and its a one for two offer and the Record Date for determining Shareholder entitlements was 6/4.10, so if you bought y`day you`re too late, funny thing is that yesterday was Sunday so you`ve got me there. Prospectus is 43 pages long and haven`t read it yet.

Fully underwritten by Patersons Securities Ltd


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## Sharejon (12 April 2010)

By yesterday i meant friday, my bad .

Also what do you mean by 1 for 2?

I thought the conditions were 7.5c shares, with 1 free share per 5 purchases.

Thanks for your reply,
S


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## Buckfont (12 April 2010)

Sj, if you hold 1000 shares you have an entitlement to purchase 500 @ 0.075c.together with one free option for every 5 new shares issued, ie. 100 share options, the first one listed exercisable @0.16c on or before 31/3/2014, 153,506,297 shares, next option date listed exercisable @0.25c on or before 30/6 2010, 95,947,703 shares and so on. It`d be an idea to get on their web site for the complete options listing. 

Cheers


----------



## Zaij (13 April 2010)

Hey, how do I take advantage of the rights issue? I'm currently overseas for the next 3 years and so couldn't receive anything in the mail, can anyone link me to the prospectus and other useful material?

Regards,
Zaij.


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## adobee (13 April 2010)

Buckfont said:


> Sj, if you hold 1000 shares you have an entitlement to purchase 500 @ 0.075c.together with one free option for every 5 new shares issued, ie. 100 share options, the first one listed exercisable @0.16c on or before 31/3/2014, 153,506,297 shares, next option date listed exercisable @0.25c on or before 30/6 2010, 95,947,703 shares and so on. It`d be an idea to get on their web site for the complete options listing.
> 
> Cheers




this is correct ...  you are getting a free option not a free share ...
I dont qualify as I am only holding options at the moment ...  Cant wait for drilling to get back underway .. good to see JH out in the media trying to create some interest and still talking in the trillions !


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## Sharejon (13 April 2010)

ok thanks for the clarification, however I missed the record date so i can't take up the rights anyway.

I'm also keen for this drilling to commence, i'll certainly keep subscribed!

S


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## adobee (16 April 2010)

CTP have released a very informative exploration time table today.. I will try to attach however if not check the announcements


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## adobee (20 April 2010)

CTP talking up some action to capitalise on the helium potential which is great to see.. they need to prove there is some around but helium should definetly get market interest .. A change in CTP direction and some upwards movement continues to pend on them getting some results..


----------



## Justinbhtan (23 April 2010)

CTP when up 0.08cents today to 0.085 glad too see that 
seem to be due to the helium find. hope if continues on a upward trend

Justin


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## adobee (23 April 2010)

its got a bit of a move on today .. ye hhaaa . !!  
I dont think they have actually found any hellium yet they have just said if they do find some they could sell... people want results before we see this run hard... but great to see some positive interest .. either theres a leak or alot of people watch the ffn tv newtork JH did the interview with !


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## Sharejon (26 April 2010)

does anybody have any advice for me as to what i should do with a pre-market bid.

I do want to invest into ctp, although am not quite sure whether to bid at the current sp, slightly higher or slightly lower.

It is a tough call to make imo, as the only big market activity in ctp has been the 1 day spike on friday, and my inexperience as an investor doesn't help the situation!

p.s. does asking a question such as this go against forum rules?

If so then I apologize and the comment can be edited by a moderator.


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## adobee (27 April 2010)

CTP still getting strong interest today ... I know nothing ! so I wonder whats up ? The talk of helium perhaps getting the market to take some notice ..

Sharejon.. nobody can tell you to buy or not to buy .. You are going to have to make this decision yourself..  If you look at the highs then you could think its great value but there is no guarantees it will be this high again.. and if you look at the lows you could think its a high entry point but again it may never be this low again..

I am sitting on 1m options at average.. I am not selling but keeping them as i have faith and dont want to miss out as i have done in the past with stocks like fmg where i sold out at 20c and waited and waited for a re-entry !

best of luck with your decision ..


----------



## Sharejon (28 April 2010)

Adobee I'm well aware of that. I stated that I am keen to buy, but am curious if anybody had any estimates on what they might see as a possible low for tomorrow (as we don't want to buy at the highest price do we!).

And I agree, it's very hard to find a suitable re-entry point, and it isn't a great feeling when you've potentially missed one!

Thanks anyway, let's hope the future for CTP is a bright one!


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## 5haretrader (5 May 2010)

Well it's fair to say that CTP has copped an absolute hammering in the last few days, nothing has gone it's way. The super tax, rights dumping and overseas financial issues all have seemed to hamper the market price.

One feels that the rot wont end quickly. Is there any chance of a sudden change in fortunes for CTP or will holders just have to brave the storm and hope to come out of the otherside in one piece? 

On another note, I see they hit some coal seam in there project that was cut short prior to the rain. Perhaps this is the only light to come out of a fairly dark week.


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## adobee (5 May 2010)

Sharejon said:


> does anybody have any advice for me as to what i should do with a pre-market bid.
> 
> I do want to invest into ctp, although am not quite sure whether to bid at the current sp, slightly higher or slightly lower.
> 
> ...




looks like a pretty good entry point today i would say.. 
unless the whole market continues to get hammered all week ..


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## Datsun Disguise (5 May 2010)

5haretrader said:


> Well it's fair to say that CTP has copped an absolute hammering in the last few days, nothing has gone it's way. The super tax, rights dumping and overseas financial issues all have seemed to hamper the market price.
> 
> One feels that the rot wont end quickly. Is there any chance of a sudden change in fortunes for CTP or will holders just have to brave the storm and hope to come out of the otherside in one piece?
> 
> On another note, I see they hit some coal seam in there project that was cut short prior to the rain. Perhaps this is the only light to come out of a fairly dark week.




That's a fair comment - it has been a woeful few days - but really for what? The super profits tax is most likely to be watered down so that it doesn't impact smaller players so much, they continue to find more coal, the funding for a go it alone program looks to be largely in place. The only thing that could be takingit's toll is that they aven't yet come out with a onfirmed Coal seam gas discovery - but as far as I can tell they haven't tested for it either - but I may be wrong there (comments?). Half tempted to top up at this price...... oh that's right I have no money left - buggar.


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## 5haretrader (5 May 2010)

I think a lot of the success in Phase 2 will bank on the Oil and Gas discoveries from Johnstone and Ooraminna. If they can crack into what they estimated was there, 500 million barrels of oil and 2 Trillion Cubic Feet of lng is a great find.

The coal seam findings really hasn't affected the market at all and this is reflective of the bigger picture for CTP's year.

Towards the close of today, some more buyer's were jumping on board around the 6.8 to 7 cent price so provided we dont have another catastrophe in the US tonight, it would be fair to say that CTP should hover around its closing price in early trading.

Ofcourse I am happy to be proven wrong if it takes a step in the right direction 


EDIT: I have been following these forums for a while but hadn't bothered to register until today. Let's try and spark abit of constructive discussion about the year ahead for CTP. While the last 5 or so business days have been far from great, if all goes to plan it should be a successful couple of months for this company. Fingers crossed for a bit of luck overseas tonight so sellers dont go on another panic attack tomorrow morning.


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## Pivotonian (7 May 2010)

5haretrader said:


> ... so provided we dont have another catastrophe in the US tonight, it would be fair to say that CTP should hover around its closing price in early trading ...




Hmmmm.  Does some numbnuts trader in the US entering the wrong number on his P&G trade count as a catastrophe?


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## lukelee (7 May 2010)

GUYs! I have just received a letter of "CHESS Allotment Confirmation Notice as at 3 May 2010, Security class: ORDINARY FULLY PAID SHARES" 
and "CHESS Allotment Confirmation Notice as at 3 May 2010, Security class: LISTED OPTIONS EXPIRING ON 31 MARCH 2014 @ $0.16" 
there is also a form: "Application Form on Exercise of Options Expiring 31 March 2014" 

What is this? should I fill the form and send out? is this something about the "ctpra"?

Cheers


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## 5haretrader (8 May 2010)

Luke, those are options to buy shares at 16c at anytime (regardless of market price) prior to March 2014. It is up to you whether you would like to bid on/use these options.


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## 5haretrader (11 May 2010)

Well after a torrid week or so, CTP looks like building some momentum coming up to the first announcements about O2. Buyers are lining up this morning well above (0.6c) the market price at close last night. Should be a relatively cracking day for CTP if market depth is anything to go by.


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## 5haretrader (14 May 2010)

Well my prediction earlier this week fell in a heap, buyers ended up playing the conservative game.

*Price sensitive announcement out today*...however it was after market close so we won't see the market's reaction until Monday. Long story short, the Ooraminna rig is being mobilised and the latest day to begin spudding according to their contract is the 31st of May 2010. This is a short delay as they planned to kick things off tomorrow however some small issues has pushed them back a bit in the past few weeks. Nothing to be concerned about however, we've waiting this long, the gas will still be there in a week or so. Fingers are well and truely crossed


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## adobee (17 May 2010)

Great news that we are driling this month and targeting a big target... bit concerned that we keep hyping that we are targeting 2Trillion CFG .. if we dont hit the target it could lead to some disappointment ..


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## Sharejon (17 May 2010)

I agree Adobee.

However im confident that if CTP even gets near the target the share price should go up significantly, as it means the gas reserves have actually been accessed (and proven that they hold gas).

Exciting times ahead when results from the drilling are released. Hopefully the results come out nicely.


----------



## Buckfont (17 May 2010)

An interesting article from Proactive Investor in Britain on CTP. They gave the company a pretty good wrap. 

http://www.proactiveinvestors.com.a...t-bang-for-buck-oil-play-on-the-asx-7109.html


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## adobee (18 May 2010)

Buckfont said:


> An interesting article from Proactive Investor in Britain on CTP. They gave the company a pretty good wrap.
> 
> http://www.proactiveinvestors.com.a...t-bang-for-buck-oil-play-on-the-asx-7109.html




This is a great article .. inspires some of my confidence lost over the last few months ...  anyhow today we have COAL and some pretty thick seams ... Looking more promising .. hopefully can help push us back up a bit ..


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## Tukker (18 May 2010)

This caught my eye recently.  Good write up. Technically its nearing post GFC levels, a possible buy opportunity.

An old girlfriend of mine has just come back from Canada with a masters in chemistry and was telling me about helium and its finite supply.  She told me that i should look into it, so i did. 



> "In 1996, the United States government proposed that the government-funded storage program for helium be halted. This has many scientists worried. They point out that helium is essentially a waste product of natural gas processing, and without a government storage facility, most of the helium will simply be vented into the atmosphere, where it will escape into space and be lost forever. Some scientists predict that if this happens, the known reserves of helium on Earth may be depleted by the year 2015."



http://www.madehow.com/Volume-4/Helium.html



> MRI uses the biggest chunk of the world's helium, requiring 7000 tonnes (22% of the total) every year to cool the superconducting magnets that lie at the heart of these devices.



http://physicsworld.com/cws/article/news/41528

If you do a quick search on helium supply 2010 and beyond you will find a significant following for the preservation of the gas.

Helium seems to be a big part of CTP's product list, and at $130 USD/1,000 scfg this seems prudent.  

If my capital frees up soon enough, CTP is on my to buy list.


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## adobee (18 May 2010)

Helium is also going to be need by the chinese for cooling in nuclear energy which they are racing ahead with.. I would expect they will be rather aggresive in stock piling it also..
http://www.abc.net.au/catalyst/stories/s1854362.htm

If we ctp can find an abundance of helium then this will really may the infastructure worth while and the rest will be history..


----------



## Sharejon (19 May 2010)

It's good to see the CTP SP making some positive movement in these last few days. Hopefully this can continue in the next few days (infact I'm hoping the entire share market advances in the next few days!).

Drilling isn't far away for Ooraminna which will change the SP one way or another (up or down). Turbulent times ahead I believe.


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## 5haretrader (27 May 2010)

Well tomorrow is really the absolute last chance to get on board CTP before spudding begins. IMO, the market will have an announcement of spudding commencement on Monday and by then it will be too late to grab shares sub 7.5cents.

Get on board now, or miss this boat!


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## adobee (27 May 2010)

I thought we spudded on 24th May 2010 ...  I just want some results.. I think at least some people are taking interest and making sure they are holding before results come out .. its been a long long wait ..


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## gaps (28 May 2010)

ado, 

yes CTP did spud on the 24th may. but that was for its CBM well 93002 (this is the 5th of 5th well for the CBM testing, after this well is concluded, there should be a report about the tonnage of coal in CTP's tenement as well as its quality and maybe even future planning) 

on the other hand, i think 5hare is refering to another spudding of a conventional well here. Ooramina 2 will spud soon (before 31st may, as it's waiting for the 2nd load of the rig to arrive onsite, imo spud is over this wkend) hence prompting 5hare to mention it. 

Oorammina is an appraisal well (2TCF) and have a 50% cos of success. it's predecessor Oorammina 1 flowed gas before. 


besides this two ongoing wells. CTP is going to have back to back drilling. After Oorammina, the rig is going over to Johnstone (200mmbo) and then over to drill a Helium play. 


this is an exciting time for all shareholders. good luck as CTP takes up a notch.


significant upside here with the back to back drillings. it is also interesting to note that Rio have also jus bought up some of the neighbouring leases for the coal prospects. The CBM play could be really really huge.


but for now.

First well success = 77c undiluted 49c diluted

Second well success = $1.25 undiluted 80c diluted

Third well success = 64c undiluted 41c diluted

patos did a evaluation of CTP as well. figures are not far off. 


good luck all holders.


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## 5haretrader (28 May 2010)

So a fairly flat day given how promising it was looking early. With so much anticipation for the coming week, however, I think it won't take long to knock out those trying to sell for a break even after buying options. Once those 6-7 million shares go into new hands, the SP should gather momentum very quickly. To all holders, have a good weekend, get ready for a blinder next week.


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## Slipperz (29 May 2010)

I have taken up a sizable position on Friday.

Plenty of upside potential with three wells drilling consecutively.

I think the share price has probably fallen as far as it is going to go and hopefully the only way is up from here.


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## 5haretrader (31 May 2010)

Announcement, spudding delayed again .





buuuuutttttttttt.....



only til this friday .


Reckon CTP will be compensated given that 31st May was the deadline?


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## Tukker (10 June 2010)

Results out for exploration well CBM 93-002.



> The well intersected a cumulative thickness of coal in seams over 1m in thickness of just over 110m (inclusive of a number of coal seams individually up to over 10m in thickness). Electric logging has been completed and the well is in the process of being plugged and abandoned.




I'm not a good reader of these reports but that sounds like a dud to me.

Anyone else care to comment?


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## rockhound308 (10 June 2010)

Plenty of coal, won't really know about gas until the lab results come back from the states in around  8 weeks i think.
 Don't worry about the  "plugged and abandoned" its only a exploration hole, they generally all get that eventually.


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## 5haretrader (11 June 2010)

We have a spud .

Two ways to go from here, we go to the TD of 1800m or we get some results at about 1200m. By the looks of things, going to 1800m will take about 26days if I read the announcement correctly.


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## Coolman (16 June 2010)

Starting to feel the heat now, I believe we are in the....Despondency part of the trade...High Emotional Cost & Low Financial Cost.....

The nerves come into it now  

Cant wait till we hit 1200m, its sideways till then


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## Coolman (16 June 2010)

I still have a little faith in ctpoa, bought them at 0.004 the day they dropped to 0.002, then 0.001 fast way to lose 75% in a day....if we get some jv clarification or a revelation before O2 spudding, like if BG and ROG pay before O2 reaches TD or something magical happens....who knows, could gazillionise my money  7 days till options trading ceases, hmmmmmmmmm!


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## davido (24 June 2010)

G,day, anyone have any ideas why SP going down are they just people with cold feet????   Hopefully good news in about 10 days if drilling is on time.


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## will2rob (29 June 2010)

davido said:


> G,day, anyone have any ideas why SP going down are they just people with cold feet????   Hopefully good news in about 10 days if drilling is on time.




Probably a whole range of reasons, market down generally, end of FY so some are locking in a loss, settlement of the PXA dispute means BG is out after stumping up $4.5m - some see this as negative, some as positive, RSPT etc etc. There is a lot of weakness in the market generally ATM and I think the speccy plays like CTP are probably less attractive.  Despite 5haretrader's call to get on board, last chance etc, I think nervous investors are pulling out and waiting on the sidelines until there is positive news.


----------



## Datsun Disguise (29 June 2010)

had a look at the drilling schedule today and we should be getting ready to drill into the first target - this is the one that produced gas but was not tested properly back in the 60's. You can't help but think that back in the 60's the focus would have been on oil and the drillers wouldn't have been all that interested in gas - especially in the desert! So hopefully the gas is still there (pretty sure to be) and then lets hope it's a big reserve ( who knows). 

I prefer the approach of some other explorers whereby they give you regular updates during drilling - feel like I'm flying blind at the moment and trying to keep an eye on it for big volumes signalling insider knowledge ahead of the publication of an announcement...

I'm a little cautious, even about good news, as this is the desert we are talking about - I don't think the market will rush to purchase CTP even with a commercial discovery. none the less good luck to holders.


----------



## Datsun Disguise (1 July 2010)

This could very well be jumping at shadows but on a down day - and after a bit of a slide in sp - CTP is showing good volume and a handy uptick at the moment. Given the expectation of an announcement regarding the Pioneer sandstone target I am hoping that this is the pre announcement leaking giving the sp some momentum..

Nothing to do but wait and see! Good luck to holders.


----------



## lemmo (1 July 2010)

You are right - jumping at shadows . The announcement just received is on options expired - directors interests - SP has now dropped back a little. Probably get a drilling report after 4.00. -  to late for SP reaction


----------



## Putty7 (1 July 2010)

Datsun Disguise said:


> This could very well be jumping at shadows but on a down day - and after a bit of a slide in sp - CTP is showing good volume and a handy uptick at the moment. Given the expectation of an announcement regarding the Pioneer sandstone target I am hoping that this is the pre announcement leaking giving the sp some momentum..
> 
> Nothing to do but wait and see! Good luck to holders.




They are running casing at the moment just above the target zone Datsun, if you go to their website they have a daily drill update button down the right side, saves them flooding the market with useless information, 3 days to run casing I think so they should be drilling into target zone next week, if all goes according to plan of course.

http://www.centralpetroleum.com.au/

Good recovery by the SP today after the last few days of selling, what next week will bring is down to the spinning lie detector now.


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## Kev5940 (1 July 2010)

lemmo said:


> You are right - jumping at shadows . The announcement just received is on options expired - directors interests - SP has now dropped back a little. Probably get a drilling report after 4.00. -  to late for SP reaction




He Lemmo,

Why don't you visit the CTP site and get some info first hand as they are drilling almost in your back yard.

Good luck with CTP. I have been a long term holder.

Regards

Kev


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## lemmo (2 July 2010)

Sorry, Now with OH&S, those days are gone. The last time I contracted at the Mereenie oil field I was flown interstate for three days for inductions before allowed on site, then more inductions at the camp before allowed on the field. Years ago we visited drill sites even sat watching a fraq with numerous compressors roaring.

Sometimes the local CTP guys give out some information on what is happening. 

I also hold for a long time. Some I bought at 18 cents, average now 10.7 cents. Wednesday Just lost $6,000 on CTPOA expiring.

Good luck, 

Cheers
Matt


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## Datsun Disguise (2 July 2010)

Putty7 said:


> They are running casing at the moment just above the target zone Datsun, if you go to their website they have a daily drill update button down the right side, ...




Thanks Putty, good to know they are on schedule. I was wondering why the announcements weren't coming. Even with the website I'd expect that running casing just above your objective would be a good time to update the market. 

Anticipation is building!!


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## Datsun Disguise (7 July 2010)

Heads up - CTP will be drilling into the Pioneer objective tonight / early tomorrow morning. Looks like all will be revealed tomorrow....

Announcement with details fom your usual sources.


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## Kev5940 (7 July 2010)

lemmo said:


> Sorry, Now with OH&S, those days are gone. The last time I contracted at the Mereenie oil field I was flown interstate for three days for inductions before allowed on site, then more inductions at the camp before allowed on the field. Years ago we visited drill sites even sat watching a fraq with numerous compressors roaring.
> 
> Sometimes the local CTP guys give out some information on what is happening.
> 
> ...




My average is .096 i am keeping my hopes up with the current drilling. We should know in a few days if we will be eating caviar or bully beef.


Regards

Kevan


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## Datsun Disguise (7 July 2010)

Kev5940 said:


> My average is .096 i am keeping my hopes up with the current drilling. We should know in a few days if we will be eating caviar or bully beef.
> 
> 
> Regards
> ...




I've become quite fond of Bully Beef over the last couple of years, it's an acquired taste you know. Not sure my system could handle caviar....


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## davido (8 July 2010)

Morning all, Can someone please confirm the CTPO options trading are 16c options. Hopefully good news today. 
Cheers


----------



## davido (8 July 2010)

Hmmmmm, according to daily drilling update drilling has not recommenced, so will be at least tomorrow before any news. talk about dragging this out.


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## Buckfont (8 July 2010)

davido said:


> Morning all, Can someone please confirm the CTPO options trading are 16c options. Hopefully good news today.
> Cheers




davido, this link will give you the lowdown, if this is what you`re looking for.

http://www.aspectfinancial.com.au/d...Jyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true 

There also may have been a bit of rain through the middle which can slow things up a bit.


----------



## davido (8 July 2010)

Thanks Buckfont, What I am Wondering is if I buy some ctpo at 0.04c are they exerciseable at 16c or 25c?. Clarification would be greatly appreciated.


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## 5haretrader (8 July 2010)

16cents.


Character Limit Character Limit Character Limit Character Limit Character Limit Character Limit Character Limit Character Limit Character Limit Character Limit


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## lemmo (11 July 2010)

Kev5940 said:


> My average is .096 i am keeping my hopes up with the current drilling. We should know in a few days if we will be eating caviar or bully beef.
> 
> 
> Regards
> ...




Hi kevin

I haven't spoken with anyone, however, we have had some rain a couple of days ago wich would hold them up with heavy vechicle movement AND it has started to drissel rain again this morning.

CTP have to find gas here!!! and more than likely will find gas, "BUT" unless it is a gusher, it could take some time to establish feild commerciality.


Cheers

Matt


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## Kev5940 (11 July 2010)

Thank's Matt,

I see they are at the 1266M leval. Let's hope it a gusher.Fingers crossed untill tomorrows announcement.

Regards

Kevan


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## Putty7 (11 July 2010)

Kev5940 said:


> Thank's Matt,
> 
> I see they are at the 1266M leval. Let's hope it a gusher.Fingers crossed untill tomorrows announcement.
> 
> ...




Just keep an open mind that the ground maybe tight Kev, it may need to be fracced to open things up a bit, hopefully not. 

The original announcement for O-2 stated if they find enough gas in the pioneer they may TD early. They have been drilling around 150m to 200m every 24hrs with air, the latest report seems to indicate they only drilled 80m in 24hrs, they have drilled through the pioneer, it could mean a lot of things but it seems strange that the drill rate has slowed so much for little reason. 

We will find out in due course and my reasoning may be wrong.


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## Slipperz (11 July 2010)

I wouldn't be surprised to see the ASX server crash tomorrow at 8.29am under the sheer volume of anxious CTP holders looking for the good news from the red centre.

I'll be in there whacking away on my refresh button as well


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## Datsun Disguise (12 July 2010)

A bit of panic selling this morning pre-empting some bad news.. I note from todays drilling report that they have penetrated the Pioneer sandstones and have stopped drilling - although no announcement to say that they are declaring TD yet. 

Anyway, despite the selling, units were soaked up quite well, I was concerned we might see a price collapse and was ready to take advantage of that but it didn't happen.

So, the waiting continues. Hoping you haven't whacked your refresh button to death Slipperz.


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## davido (12 July 2010)

OK, So who knows if a flow rate of 100mcfgd is good, average, or bad for there depth. Drill bit got jambed and have to fix a few more days waiting I guess.


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## boronia (12 July 2010)

davido said:


> OK, So who knows if a flow rate of 100mcfgd is good, average, or bad for there depth. Drill bit got jambed and have to fix a few more days waiting I guess.




100 000 cubic feet /day isn't great and not commercial but they have only just started in the zone. I expect this will not be the final flow rate


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## Slipperz (12 July 2010)

Datsun Disguise said:


> A bit of panic selling this morning pre-empting some bad news.. I note from todays drilling report that they have penetrated the Pioneer sandstones and have stopped drilling - although no announcement to say that they are declaring TD yet.
> 
> Anyway, despite the selling, units were soaked up quite well, I was concerned we might see a price collapse and was ready to take advantage of that but it didn't happen.
> 
> ...


----------



## lemmo (13 July 2010)

Slipperz said:


> Datsun Disguise said:
> 
> 
> > A bit of panic selling this morning pre-empting some bad news.. I note from todays drilling report that they have penetrated the Pioneer sandstones and have stopped drilling - although no announcement to say that they are declaring TD yet.
> ...


----------



## davido (14 July 2010)

Any opinions on last nights announcement? I did not think it was totally negative, the gas is obviously there the flow rate is what must be spooking some investers. Fracing I dont know a lot about but it is a common practice to improve flow rates. Hopefully more gas is registered in the lower formations. Anyone with a greater knowledge on gas wells your opinion very welcome.
Coal results due anytime from the 26th onwards.


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## boronia (14 July 2010)

davido said:


> Any opinions on last nights announcement? I did not think it was totally negative, the gas is obviously there the flow rate is what must be spooking some investers. Fracing I dont know a lot about but it is a common practice to improve flow rates. Hopefully more gas is registered in the lower formations. Anyone with a greater knowledge on gas wells your opinion very welcome.
> Coal results due anytime from the 26th onwards.




Agreed, the flow rate aint great but because a gas water contact hasn't been found its still open at depth. Frac or acid may improve the flow (the link below indicates fraccing has been successful regionally)

There seemed to be some selling pressure on CTP but I reckon it's still to early to call on this hole

http://www.proactiveinvestors.com.a...eports-on-flow-rates-at-ooraminna-2-8600.html


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## 5haretrader (20 July 2010)

The chart looks a bit sick at the moment doesn't it. I wonder what it will take to kick the share price in the right direction? In the next few weeks the following will act on the price in one way or another


global market sentiment
Coal report
Ooraminna 2 announcements

The only one of the above three I have faith in helping the share price in a positive way is the global market sentiment which should pick up with some good company reports from America over the next week or so.


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## BESBS Player (23 July 2010)

G'day CTPers.

After doing some research and consulting Paul the Octopus, I have taken the plunge and taken a position in CTP again. As per usual, I am looking from a BESBS (Buy Early Sell Before/during Spud) scenario.


The recent poor results and O2's current uncertainty (at least that is the way the market is pricing CTP at present) has meant that the SP trend has been downward. This is not what I generally like immediately before a BESBS play but I think CTP has a few potentially redeemable features from a BESBS perspective. 

At present, the general market has stabilised somewhat. CTP has cash and a rig. Both these are essential in this market. 

While O2 results are yet to finalise, the SP has dropped to levels that suggest that the general punters have depreciated the chance of commercial success (maybe unfairly but not surprising in this market). A final P&A might drop the SP slightly but given action ahead, this would be very limited at these already low SP levels. With some luck, O2 might still have a positive outcome but I'm not assuming anything.

In the current BESBS market, you need to have potentially mega quantities of gas, otherwise large oil targets it must be. Johnstone is just what is needed - a potential mega OIL target. This should attract some interest and assuming the market does not embrace the O2 result, still be substantial enough to turn the recent SP trend around.

Finally, the CTP share is near historic low levels. Given the cash and the Johnstone drilling, I'm happy to take a punt and try CTP as a short term BESBS play. CTP has been very kind to me in the past and hopefully shall be again. At this SP, one does not need a huge turnaround to lock in a handy gain.

Hmmm...an early oil show would be handy...hope Paul the Octopus thinks so!!!


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## lukelee (24 July 2010)

I am still holding this stock at the price of 0.160, terrible, isn't it?
0 dividend, negative eps. I don't remember what made me put money on this one.


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## Putty7 (25 July 2010)

O-2 reached TD today, wireline and logging should be done shortly after, thankfully this long drawn out drill is over, whatever the result it will be good to head to J-1 and have a go at some oil. Good to see you are still around BESBS, not much BESBS action of late but your tiges are doing well thanks to Jumping Jack.


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## BESBS Player (27 July 2010)

G'day Putty,

Yes, the BESBS plays (largely) dried up in Q2 2010 so I stood asidemostly, apart from buying a few BAS on the cheap. A few BESBS plays are just starting to run now that tax loss sales have finished. I ended up with my highest returns ever but nothing much (close to zero) was contributed in the last 3 months. Still, new FY is off to a good start with MMR. 

Agree with sentiment about O-2. The sooner we move onto Johnstone-1, the better. If CTP is to arrest the recent SP falls, it will need an oil target and plenty of attention. Hopefully we will get some attention...

PS. The Bombers are back (don't mention the Tigers last Saturday!)


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## Putty7 (28 July 2010)

Drill date for J-1 set.



> Road works and drilling pad preparation for the spudding of Johnstone West 1 and the supply of casing and relevant hardware has largely been completed and it is anticipated that the well will spud on or about the 14th August 2010.




They are still over O-2 doing an acid wash on the pioneer and results will follow the outcome of this. Not holding great hopes but a pleasant surprise would be nice, if it is worth fraccing at a later date it will be a better outcome than what it looks at the moment.

SP looks to have held at .055c and may be due to bounce.

Yes Knights appears to have pulled a rabbit out of the hat BESBS, I would still be shorting essendon in any tipping comp for 2010 lol.


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## adobee (28 July 2010)

I have been away for a while but still holding this.. I picked up another 100k at 0.054 this morning.. It is low at the moment which is fair enough as they havent got anything yet but the next drills are the big ones ..

_Ooraminna 2 is the first well in a planned 3-4 well programme for 2010 including the *500 MMbbl oil (“high” estimate UOIIP) Johnstone West 1 prospect and the 800 BCFG (“high” estimate UGIIP) and 15 BCF helium (“high” estimate UGIIP) Magee 2 well*. Road works and drilling pad preparation for the spudding of Johnstone West 1 and the supply of casing and relevant hardware has largely been completed and it is anticipated that the well will spud on or about the* 14th August 2010*_

I have been waiting about 18 months for these drills ..  Johnstone West & Magee will be make or break.. If they come up trumps especially with helium I expect great market reaction.. If they dont my options will be looking worthless.. but its all happening in the next month ..


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## BESBS Player (3 August 2010)

Announcement out today on the ASX.

O-2 flow rates a little better than before but nothing to right home about.

The GOOD NEWS: Johnstone-1 should be getting underway as exepcted by August 14. *"500 MMbbl oil (“high” estimate UOIIP) Johnstone West 1 prospect and the 800 BCFG (“high” estimate UGIIP) and 15 BCF helium (“high” estimate UGIIP) Magee 2 well.*are about to occur. 

SP has risen to 6c this morning on this news.

Disc: holding CTP at 5.7c.


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## BESBS Player (6 August 2010)

ASX announcement out today.

CTP have farmed in to EP97 with Rawson. 

While this is fine by me, the real news is fast approaching...the spudding of Johnstone-1 should only be a little over a week away (scheduled to commence around Aug.14).  

*"500 MMbbl oil (“high” estimate UOIIP) Johnstone West 1 prospect and the 800 BCFG (“high” estimate UGIIP) and 15 BCF helium (“high” estimate UGIIP) Magee 2 well to follow...*

While CTP have been on a recent downward SP trend (largely since Christmas), I'm hoping that this oil drilling will turn momentum.


Disc: Holding CTP


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## Donga (7 August 2010)

CTP has been very disappointing over past few months but looks like BESBS has done it again (referring to PEP 11 holding). 

Comfortable to have averaged down to around 11c (yeah bought in initially at 16c as well lukelee) and looking forward to recovery over the coming weeks and profits over remainder of 2010.


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## adobee (9 August 2010)

ctp starting to look better.. options are looking good at 2.9 & 3c.. I have bought more this morning..  they will sit pretty until after :

500 MMbbl oil (“high” estimate UOIIP) Johnstone West 1 prospect and the 800 BCFG (“high” estimate UGIIP) and 15 BCF helium (“high” estimate UGIIP) Magee 2 well. Road works and drilling pad preparation for the spudding of Johnstone West 1 and the supply of casing and relevant hardware has largely been completed and it is anticipated that the well will spud on or about the 14th August 2010


I am hoping JH isnt all talk. .


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## BESBS Player (12 August 2010)

Not long now to wait. Assuming no delays, August 14 should see the start of Johnstone-1.

*"500 MMbbl oil (“high” estimate UOIIP) Johnstone West 1 prospect and the 800 BCFG (“high” estimate UGIIP) and 15 BCF helium (“high” estimate UGIIP) Magee 2 well to follow...*

It will be interesting to see how the market reacts to the onset of drilling. 


Holding CTP @ 5.7c


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## adobee (13 August 2010)

Has held up well last few day and some buying activity starting.. I think it could go well in anticipation however my concern is that unfortunately we have such high estimates that there is a good chance of market disappointment even if we strike gold..  We could come up with 400 MMbbl oil 600 BCFG and 8 BCF helium and the market could say ohh not what they were prediciting we'll dump it rather than saying bonza !

well see what happens..


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## UPKA (13 August 2010)

adobee said:


> Has held up well last few day and some buying activity starting.. I think it could go well in anticipation however my concern is that unfortunately we have such high estimates that there is a good chance of market disappointment even if we strike gold..  We could come up with 400 MMbbl oil 600 BCFG and 8 BCF helium and the market could say ohh not what they were prediciting we'll dump it rather than saying bonza !
> 
> well see what happens..




with its cash holding valued at 5c/share, how low can it go? the market is pretty much valuing all of CTP's projects @ 1.5c/share, which is <$20m...


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## BESBS Player (13 August 2010)

Interesting Adobee & UPKA.

With tiddlers like CTP, I suspect that psychology will determine much of the initial trading in the case of any success.
Once news is released of 'oil shows' or anything similar, this one shall rocket quickly, simply because no-one would know the size of the target but as it is in largely unexplored territory and the high estimate is so large, many punters will say "why not jump in and see", given the potential reward on offer.

By the time we get to valuing CTP and working out more factual calculations, much of the emotional run shall be over IMHO. It should be a little easier play this stock at that time, if CTP did experience success.

Just watch this space. If CTP get a sniff of black gold early on, this will fly. If nothing, then I'd expect emotions will drive this back to near 5c in a hurry.

Anyway, just my thoughts. 

Cheers,
BESBS


Disc: Holding at 5.7c


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## happytown (19 August 2010)

johnstone-1 spudding 14 august or some such thing

can't find any ann re spudding or delay to spudding and it's now 19 august


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## happytown (19 August 2010)

proof that asf is in the favourite's folder of all asx-listed juniors

ctp ann out this afternoon re spudding of johnstone-1 today

also confirmation that the 5 csg well program completed earlier this year produced disappointing results, with prelim advice from netherlands sewell not encouraging


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## Tukker (19 August 2010)

BESBS Player said:


> Not long now to wait. Assuming no delays, August 14 should see the start of Johnstone-1.
> 
> *"500 MMbbl oil (“high” estimate UOIIP) Johnstone West 1 prospect and the 800 BCFG (“high” estimate UGIIP) and 15 BCF helium (“high” estimate UGIIP) Magee 2 well to follow...*
> 
> ...




So are you one of those who jumped ship today BESBS?  5.9 close tonight ? A heck of a lot of money moving the same way it seems. 

7Mil traded and share goes flat on their rear.  Looking at the bright side, what value would a successful Johnstone well value ctp at?


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## BESBS Player (23 August 2010)

Hi Tukker,

Sory for the late reply. I have been away at a conference for much of last week and didn't have easy access to share-boards.

The answer to your question is yes and no.

I did sell 40% of my holding at 6.4c ave. early last week (to use elsewhere) but retain 60%. Truth be told, I might have sold out but I was away from the computer when this announcement was released.

Still, I'm happy to wait and see. I never bought CTP for any CSG assets. I have always considered these to be very limited in value hence I have only ever played CTP for oil plays.

Johnstone has now spudded. Johnstone is a _potentially_ large oil play. Given I have a small buffer from the earlier sale, I'll wait a while, allow the drill biut to spin, and hopefully read an announcement of early oil shows or hydrocarbons etc. If this occurs, CTP shall quickly rise (although it depends upon the content of such announcements as to the reaction of the market).

Cheers,
BESBS


Holding 60% @ 5.7c   (sold 40% at 6.4c)


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## happytown (27 August 2010)

so ctp's jv partner, trident, doesn't have the $1.5M cash to stump up for Johnstone West 1

so ctp have said no wukkers, we'll pay for the drilling and if you like the results from the drilling, then, and only then, do you have to stump up cash

see ann released today

has this co ever picked a decent jv partner


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## BESBS Player (28 August 2010)

G'day HappyTown.

As I see it, if J-1 hits oil, then this will move upward. 
If J-1 is a duster, the guts will fall from CTP as oil plays are a big lure for short-term traders. I have no faith in their coal claims and I can't see gas luring too many (especially in the CTP location) with little drilling to follow in the short term.

Once my orders for BKP started to be hit early in the week at .003c, I then dumped my stock at 5.6c-5.7c to help cover funds. 

This news, although I did not see it coming, just adds more 'questions' for would-be punters and makes me glad I jumped. While JH always seems to be able to raise more cash, the SP has continued to slide and this removes some of the foundation support in many punter's minds.

Good luck to holders and I do hope that J-1 comes up trumps.

Cheers,
BESBS  

Bought CTP at 5.7c (ave).
Sold CTP at 6.05c (ave)
Profit 5% - not much but acceptable for a short term hold


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## UPKA (2 September 2010)

I think a lot of ppl have mistaken Suprise 1 for Johnstone West 1... suprise 1 is just another prospect with 50mmbbls potential.

otherwise... i can't explain the retreat yesterday.


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## happytown (2 September 2010)

are any of their jv partners prepared to contribute their ageed-upon share of explorations costs

ROG jv - No
Trident Energy jv - No (ann dated 27/08/10)
Oil & Gas Exploration Ltd  - No (ann dated 01/09/10)

these non-payments (inability to pay) by jv partners are forcing ctp to alter their exploration program

the May CSG well program deemed disappointing by ctp
the current helium/gas well program re-prioritised to a later date

if they don't hit oil, what next

and without jv partners contributing, how much of their intended program can they complete


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## Datsun Disguise (2 September 2010)

I think the cap raising from last year put them in a position (or very close to one) where they could go it alone, although it is disturbing that all JV partners are more hat than cattle. A single good quality partner would be very nice to have....

Anyway, primary target not too far away now - without a solid result I'd say CTP will spend some time in the basement.


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## UPKA (6 September 2010)

to my surprise CTP did find some signs of oil... the stock was heavily dumped since the announcements of the JVs. However, it's still early days, but this announcement will certainly attract a lot of attention


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## Datsun Disguise (6 September 2010)

UPKA said:


> to my surprise CTP did find some signs of oil... the stock was heavily dumped since the announcements of the JVs. However, it's still early days, but this announcement will certainly attract a lot of attention




All aboard, CTP leaving the basement momentarily....

Just p*ssed I missed the announcement - friggin' risk workshop!! Wonder if the gap up tomorrow will be too much to stomach for an additional entry point..

Here's to a billion barrel discovery, that would at least _partially_ cover my 08 / 09 losses...


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## adobee (6 September 2010)

Datsun Disguise said:


> All aboard, CTP leaving the basement momentarily....
> 
> Just p*ssed I missed the announcement - friggin' risk workshop!! Wonder if the gap up tomorrow will be too much to stomach for an additional entry point..
> 
> Here's to a billion barrel discovery, that would at least _partially_ cover my 08 / 09 losses...




Amen to that.. some potential manipulation here with todays two announcements.. no sign of oil.. then they find the underground nile glowing in its beauty two minutes before close..

Fingers crossed this can gap up tomorrow to start recouping some of the last three years losses... This is only a wildcat too !


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## Slipperz (6 September 2010)

adobee said:


> Amen to that.. some potential manipulation here with todays two announcements.. no sign of oil.. then they find the underground nile glowing in its beauty two minutes before close..
> 
> Fingers crossed this can gap up tomorrow to start recouping some of the last three years losses... This is only a wildcat too !




Good luck to the faithful on this one.

Pattersons were pretty quick off the mark to fire off a speculative buy reccomendation with a target of 16 cents.


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## boronia (7 September 2010)

Slipperz said:


> Good luck to the faithful on this one.
> 
> Pattersons were pretty quick off the mark to fire off a speculative buy reccomendation with a target of 16 cents.




..and now a trading halt pending a Thursday ann. from evaluation of drill results o/nite..


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## BESBS Player (7 September 2010)

Great to see CTP hit some oil.

I guess it is still to be determined how good the find is but it is a positive direction! Even better news for the longer term holders.

Watching from the sidelines but happy to see CTP and the faithful having some luck.

Cheers,
BESBS


PS. A wildcat success every now and then helps to boost future pre-spud runs


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## late_start (8 September 2010)

Slipperz said:


> Good luck to the faithful on this one.
> 
> Pattersons were pretty quick off the mark to fire off a speculative buy reccomendation with a target of 16 cents.




Could any members here provide the in-depth analysis for this current find?  Just want to to get some more opinion from you guys.......


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## adobee (8 September 2010)

I dont think there is enought info out for an indepth analysis.. the company will be doing an analysis on what they have found and will release results.. At this stage all that can be said is CTP has found some oil that at a glance it looks very good.. they will need to keep drilling to sure up any reserves but for an explorer it gives alot of hope as CTP has biggest amount of land in this district..


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## adobee (8 September 2010)

From the sounds of the BRR interview we should expect another annoucement in the next 24 hours as they drill further and have more info on the oil shows..  Lets hope we get some flows to the surface ..


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## adobee (10 September 2010)

Interest  building again on CTP this morning.. I think there will have to be more news out today or monday for the swing this morning .. Wait and see at this stage.. Almost back in the green !!


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## adobee (13 September 2010)

soon enough we will know if we get flows to the surface.. i think this is going to be the telling factor of whether we will see old highs again or a dwindle back down to the lows we have had for the past few months.. heres to having my fingers crossed..


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## Datsun Disguise (13 September 2010)

adobee said:


> soon enough we will know if we get flows to the surface.. i think this is going to be the telling factor of whether we will see old highs again or a dwindle back down to the lows we have had for the past few months.. heres to having my fingers crossed..




I initially thought that you were being a bit pessimistic re sliding back if we can't get oil to surface. Reason being that presence of oil confirms an active oil kitchen - that's a big plus. Even if this well doesn't produce it heightens the prospectivty of the area, it may just be a matter of some detailed seismic to ascertain where the oil has been reservoired - it must have gone somewhere. I am now very optimistic re CTP's permits, but I still think you may have a point re back sliding if this one doesn't work out - pumters seem to have little to no patience these days. 

Anyway here's to a gusher - that might get the sp really moving. Even so todays lift is good, any techies care to comment on a possible application of some elliot wave theory - surely recovering stocks would all follow the patterns?


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## adobee (14 September 2010)

There will have to be a drilling update shortly.. checking the daily drilling website it appears they have slowly moved further.. Great opportunity if you think it will head north whilst there are people who cant hold further and get out.. picked up another 500k at 0.09  ..  Fingers crossed we get an oil slick this afternoon ..


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## adobee (15 September 2010)

Annoucement out.. CTP to drill Surprise also to further explore current oil shows and work out which formation they are in.. JH indicates announcement re sidetrack on current welll due today or tomorrow..

Hope this is enought to test 9.7c again.. I think we will need a positive annoucement on the sidetrack to break 10c..


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## Slipperz (16 September 2010)

adobee said:


> Annoucement out.. CTP to drill Surprise also to further explore current oil shows and work out which formation they are in.. JH indicates announcement re sidetrack on current welll due today or tomorrow..
> 
> Hope this is enought to test 9.7c again.. I think we will need a positive annoucement on the sidetrack to break 10c..




That didn't take long lol

Looking like another good payday for the faithful today!


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## Datsun Disguise (16 September 2010)

This is fantastic - the announcement re Surprise gave me a lot of confidence. Having confirmed the presence of oil up dip the odds are very good that the surprise structure is filled - notwithstanding what is present at the current drill site.

From memory you can attribute about $15 a barrel for oil in place - so if surprise contains 50mmbl's that equates to a market cap of $750m - or an sp of about 70c.   Perhaps a little premature - but I've been waiting a long time!!!


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## adobee (16 September 2010)

its been a long wait to see some oil from these guys but we are looking really good at the moment.. as indicated in this morning announcement they expect to drill further this morning and we should have news later today or tonight / tomorrow morning.. from the looks of it there will be more oil as its getting better as they drill further..


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## Slipperz (16 September 2010)

Made two nice trades in at 11 and out at 11.5.

Looks rangebound now with 5 million buyers on either side of 11.5....


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## adobee (16 September 2010)

I think there is a fair way to go in this yet ..15c and highs of 23c were being achieved before there were in shows of oil.. we are now just working out how much oil there is within a tiny amount of the vast amount of land ctp are yet to explore..


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## Slipperz (16 September 2010)

Well it took all afternoon but I got my third parcel away at close.

A great days trading in a falling market

Personal best day trading profit as well 

Time for a few coopers to celebrate!

:alcohol::alcohol:


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## adobee (17 September 2010)

You might be able to trade it more today..  Further announcement out this morning of more oil shows..

96m of oil shows
14m excellent oil shows

Hopefully they get some more as they smash through the pacoota sandstone..


One would think that CTP will have to start getting more interest.. Hopefully some institutions, or chinese.. We now have assurance that there is oil , its just a matter of houw much.. and this drill isnt the primary target..

Good luck today to holders.


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## Slipperz (17 September 2010)

adobee said:


> You might be able to trade it more today..  Further announcement out this morning of more oil shows..
> 
> 96m of oil shows
> 14m excellent oil shows
> ...




LOL yeah already in the buy queue at 12.5 

Should be a fun days trading. I might hang onto a parcel as well to see how the flow tests results are, they seem to have hit the motherlode here!


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## Slipperz (17 September 2010)

A bit quieter today only 15 mm through in the first hour vs 40 mm yesterday and plenty of profittakers about from yesterday by the looks.

I knocked my opening order down to 11.5 but commsec filled it for 11 cents 

Plenty of buyers at 10.5 looks like a mexican standoff today 
:badass:


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## Datsun Disguise (17 September 2010)

If John H is right in this mornings announcement that they have been drilling through the Mereenie and Stairway formations and are just about to drill into the Pacoota sandstones then the signs are very good.

The Pacoota is the primary target - this is the one that should be containing the oil produced by the johnstone oil kitchen - the confirmation of the presence of oil above the Horn Valley siltstone may indicate that the horn valley closure has been breached at some point. If this is the case possibly one of two things could have occured then - the 'leak' through horn valley was fast and oil has migrated up to mereenie / stairway and this is all that we find at this location. If it is a slow leak then we may be about to drill into a proper reservoir that flows to surface......

Confirming presence of oil is just awesome from my perspective, as adobee mentioned, this was around 15c without having drilled anything, we've got to see some decent appreciation now that the needle came back wet... and it all bodes very veyr well for the drilling of surprise now. the only question mark is the quality of the closure.


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## adobee (17 September 2010)

I think you are right.. At the moment it is a gamble for holders and why you see many taking the short term gains and as many people rebuying.. daytraders aside.. there is the potential that by monday they will have found the oil kitchen and also the potential that they will still be drilling sandstone and no oil will have been found.. I am in for the long term till 2014 ..


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## Datsun Disguise (20 September 2010)

No news yet form the weekend - and it is spooking the horses... The drilling schedule (on their website) shows that they are at the prognosed depth for the Pacoota target - you would expect to see some news if they had encountered oil. The reason I haven't sold yet is because there is some doubt about where they are - and they encountered some of the other formations deeper than predicted. So while the picture says they are in the Pacoota sandstones, the actual position could be higher hence nothing to report. I would like to hear something about what they are drilling through though - hopefully siltstone....  Drill bit is not moving down fast either which would point to either drilling issues or hard rock.

Nervously holding...

adobee - what's your price target if you are holding for the long term?


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## boronia (20 September 2010)

Datsun Disguise said:


> No news yet form the weekend - and it is spooking the horses... The drilling schedule (on their website) shows that they are at the prognosed depth for the Pacoota target - you would expect to see some news if they had encountered oil. The reason I haven't sold yet is because there is some doubt about where they are - and they encountered some of the other formations deeper than predicted. So while the picture says they are in the Pacoota sandstones, the actual position could be higher hence nothing to report. I would like to hear something about what they are drilling through though - hopefully siltstone....  Drill bit is not moving down fast either which would point to either drilling issues or hard rock.
> 
> Nervously holding...
> 
> adobee - what's your price target if you are holding for the long term?




DD, below is an interesting article on share valuations which you may or may not have seen

http://www.proactiveinvestors.com.a...t-bang-for-buck-oil-play-on-the-asx-7109.html

Also tend to agree that the drilling has slowed substantially (25m/day??) and thus may have hit another formation or drilling problems. Bit disappointed that JH hasn't released an ann. around this slowed drilling.

Bottom line is that there are indications of hydrocarbbons in this well and those holes closer to the kitchen hold further promise.


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## Datsun Disguise (20 September 2010)

boronia said:


> DD, below is an interesting article on share valuations which you may or may not have seen
> 
> http://www.proactiveinvestors.com.a...t-bang-for-buck-oil-play-on-the-asx-7109.html




That's a very encouraging piece - it really does show that CTP is a potential elephant. Main risk is maintaining enough cash to drill all that acreage.... Here's hoping they can establish some cash flow from this well or Surprise.

Still no update which tells me there's nothing to say...


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## boronia (22 September 2010)

Datsun Disguise said:


> That's a very encouraging piece - it really does show that CTP is a potential elephant. Main risk is maintaining enough cash to drill all that acreage.... Here's hoping they can establish some cash flow from this well or Surprise.
> 
> Still no update which tells me there's nothing to say...




Update this morning for preliminary logging data. Indicates an oil column, a pay zone and some OK porosity, permeability and saturation. There is an expectation that this should flow to surface, after casing 2nd Oct.

Flow rates are the next hurdle


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## Datsun Disguise (22 September 2010)

boronia said:


> Update this morning for preliminary logging data. Indicates an oil column, a pay zone and some OK porosity, permeability and saturation. There is an expectation that this should flow to surface, after casing 2nd Oct.
> 
> Flow rates are the next hurdle




An excellent announcement this morning - all previous announcements were cautiously optimistic, but this one is a definite change of tone - oil flows 'likely' is an excellent statement for holders. The punters seem to be hanging back though. I suppose with all the doom and gloom people like to see the results before committing any cash - understandable I suppose but a discovery here paints a pretty good picture for the area - the one I'm excited about now is Surprise:drink: - it is a natural closure - no faults so much less chance of leaks allowing our oil to escape. If only I'd loaded up at 2c!! Remorse always finds a way to come to the party......

But yes Boronia - here's to getting some good flow rates.


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## zippy69 (24 September 2010)

CTP has gone into a trading halt till Monday. As a long term holder I am hoping it is good news!


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## skyQuake (24 September 2010)

zippy69 said:


> CTP has gone into a trading halt till Monday. As a long term holder I am hoping it is good news!




Raising at 8.6 with SPP it seems
Management must be trying to take advantage of the recent bounce


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## zippy69 (24 September 2010)

skyQuake said:


> Raising at 8.6 with SPP it seems
> Management must be trying to take advantage of the recent bounce




oh, where have you found that out from, have i missed something?????????? Oh I hate the minimum character count!


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## Joe Blow (24 September 2010)

zippy69 said:


> oh, where have you found that out from, have i missed something??????????




It's on page two of the announcement:



> Pursuant to ASX Listing Rule 17.1, Central Petroleum Limited (Central) requests a trading halt to its securities effective immediately, pending an announcement to be made by the Company regarding a material capital raising.






zippy69 said:


> Oh I hate the minimum character count!




75 characters isn't that hard. Put in a little effort!


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## skyQuake (24 September 2010)

Joe Blow said:


> It's on page two of the announcement:




Yup, its a pretty nifty trick.

No-one ever clicks to read the trading halt announcement lol.

Saw the 8.6c on the ASF side news bar I think


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## adobee (24 September 2010)

CTP is in trading halt for cap rasing.. but there is no mention of 8.6c ??????
No details have been released at all as yet..

Watching with anticipation to see how this plays out.. I can imagine they will just hit a cap raising now and think investors will stump up more $$$.. 

I am expecting that Monday there will be either a couple of announcements at once.. Oil Flows to surface, cap raising at $X  or  placement to Institution..


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## gsnz1 (24 September 2010)

adobee, there has been a lot of discussion on another forum site.This info from mitcho and confirmed by a couple of other posters...... placement organised by pattersons...we the little people get 150 mil shares @ 8.6cents each in parcels of $3k to $7k ...the inst/soph investors get 75 mil shares @ 8.6 cents total 225 mil @ 8.6 cents and the 19 million raised will go to follow up work on J1 and seismic work. Apparently pattersons did a presentation of some sort yesterday. Obviously, officially nothing has been released to market but this is the general consensus on HC. Many thanks to mitcho  and others for sharing the info


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## boronia (27 September 2010)

gsnz1 said:


> adobee, there has been a lot of discussion on another forum site.This info from mitcho and confirmed by a couple of other posters...... placement organised by pattersons...we the little people get 150 mil shares @ 8.6cents each in parcels of $3k to $7k ...the inst/soph investors get 75 mil shares @ 8.6 cents total 225 mil @ 8.6 cents and the 19 million raised will go to follow up work on J1 and seismic work. Apparently pattersons did a presentation of some sort yesterday. Obviously, officially nothing has been released to market but this is the general consensus on HC. Many thanks to mitcho  and others for sharing the info




Apart from the dilutive component to existing investors I think that this is still a pretty reasonable deal. I also like the fact that JH has offered up the majority of the shares to 'little people' rather than 'instos'


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## adobee (28 September 2010)

So CAP raising announcement officially out today..  as above..
Underwritten by Pattersons.. they must be confident its going to flow or that there wont be an announcement until way down the track.. ???????  No more drill or flow results yet.. thought this would be out by now..


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## beatle (1 October 2010)

The CR announcement by CTP I believe was poorly considered, notwithstanding the intention to limit risk of a failure to flow oil in JW1, based on the pricing and the structure. Clearly in the event that JW doesn't flow on test the share price will fall below the 8.6 cents issue price of SPP shares, thus will not achieve the intended capital raising of 12 odd million. But the initial tranche of funding, via placement to Patersons, although it has already managed to raise $6 odd million, it was priced very low at the time the share price was on the way up. Thus the price momentum was not optimum, and lost the loyalty of long suffering shareholders just at a time when SH thought they might recover with the encountering of oil in JW-1. I am a current shareholder and was staggered with the timing of this CR and lack of corporate nous re timing and structure. For a board of highly paid executives I would expect better!
If the price falls below 8.6 cents before close of the SPP has the existing deal with Patersons covered that scenario wrt underwriting referred to in the announcement, I hope so but I'm not sure it does!
Patersons sophisticated investors have once again made a killing with their couple of days trading and managed to kill the share price for the SPP attraction! When will corporate executives ever learn that opportunist brokers like Patersons are not dealing for the benefit of the corporate but for their own greedy pockets - of course if you didn't have naive corporate management then Patersons would have to lift their game to earn their fees rather than bottom feed off naive boards! Thats my view anyways, I have already burned a lot due to this stupidity of CTP management, and will be very careful in buying more shares at any future date with CTP, they have done this before despite their comment in the last announcement that the SPP is for the shareholder! Whooppee - maybe you can ask Patersons to take up the SPP amounts if the share price is below 8.6 cents!!!


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## basilio (6 October 2010)

> The CR announcement by CTP I believe was poorly considered, notwithstanding the intention to limit risk of a failure to flow oil in JW1, based on the pricing and the structure. Clearly in the event that JW doesn't flow on test the share price will fall below the 8.6 cents issue price of SPP shares, thus will not achieve the intended capital raising of 12 odd million




Your crystal balls are looking very clear beatle.

Oil hasn't flowed to the surface in JW1. There seems likely to be a major shakeout when the market opens (already down 10% pre opening) and it seems that CTP is furiously starting another  drill. Hopefully there will be a quick enough result to restore support in time for the Nov 3rd cut off date for the new issue. Otherwise this will look like a juicy play for the professional investors who got in and out early.

Not happy.


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## adobee (6 October 2010)

what a fizzer ...

i dont understand why they persist in talking it up.. announcing a cap raising and then releasing zero results .. 

Dejavu ..

Will keep my eye on it .. could be  a chance to trade it as I imagine it will get smashed and then recover slightly. . or not


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## noie (6 October 2010)

basilio said:


> Your crystal balls are looking very clear beatle.
> 
> Oil hasn't flowed to the surface in JW1. There seems likely to be a major shakeout when the market opens (already down 10% pre opening) and it seems that CTP is furiously starting another  drill. Hopefully there will be a quick enough result to restore support in time for the Nov 3rd cut off date for the new issue. Otherwise this will look like a juicy play for the professional investors who got in and out early.
> 
> Not happy.




The only red mark on a sold green day, thought it deserved an update..

currently 0.065 -0.024-26.966%   with a low of 0.058 this looks set for a 30% loss today,  poor  poor decisions from the board, and this is what they are hired for.
we just payed for their stupidity 3 times.


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## beatle (6 October 2010)

Hi Noie, and unfortunately I agree with you entirely. CTP board has made some very stupid commercial decisions, and us shareholders have suffered as a consequence. I made a decision in the heat of the moment to get out this morning, knowing full well that there is now a long wait for any result from Surprise, and also knowing that CTP clearly will not be able to raise sufficient funds from SPP to maintain the exploration activity for conventional oil/gas exploration unless they cut their other activities considerably.

(CTP has previously indicated an underwriting of the SPP by Patersons, but I have no doubt that this underwriting is not solidly locked in yet, thus its unlikely CTP will raise the cash they require since I can't see the share price recovering in the timeframe it has to get funds in via the SPP).

Of course the failure of oil in JW-1 is unfortunate and part of the usual technical spec risk we investors are prepared to accept. Its not clear in my mind whether CTP management could have had a better idea about this prior to their earlier claims of "excellent oil shows", "live oil" and that "oil is likely to flow to surface" (but I assume CTP management have been very careful to keep a technical audit trail to support that previous stance prior to raising funds through the Patersons placement). 

CTP has burnt its bridges with loyal shareholders (with me at least!) in the entire way it has acted recently, and its unfortunate but demonstrates how to beware of some companies. I admit it was a spec investment, but you would have hoped it was more spec on the technical aspects and not the commercial aspects which you trust a board to cover with sensible decisions!


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## noie (6 October 2010)

I hear ya.
Of course it was a spec, but a weighed spec, i guess i just thought i was paying for common sense 

Its funny how one bad management decision is OK
One bad drill result is OK
Combine the two and its potentially game over.
I don't have enough in this one (i keep my specs low after burnt fingers) ill hold until the surprise (maybe a good surprise) no matter the bottom i don't think i will pick any up cheap..

Bad drill result take weeks,  and normally only one a week, but management can make more then one bad decision a day.

One strange thing about this market ( I love Aussie white peg stocks) is we can still make some money if they fold and some-one grabs this plot for a bargain.


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## basilio (7 October 2010)

> One strange thing about this market ( I love Aussie white peg stocks) is we can still make some money if they fold and some-one grabs this plot for a bargain.   Noie




Interesting idea.  Somewhere, someone thought up the idea that LNC should make a takeover for CTP.  CTP  have billions of tons of coal suitable for UCG as well as the potentially very valuable oil tenements. LNC is now actively drilling for oil with it's own rigs (I believe) so expanding it's resource base would make excellent sense.

In fact they wouldn't even have to shell out cash. A takeover using LNC shares would add value to LNC's asset base, would enable CTP's shareholders to gain access to even larger resources and technology than they already have and enable some extra cash and expertise to be brought to CTP's exploration. It's not as if LNC hasn't already picked up other assets. SAPEX for one.

I think it could be very good deal around. With the current SP reversal some strategic buying by LNC wouldn't go astray.

Any thoughts?


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## ParleVouFrancois (7 October 2010)

I wrote a slightly more detailed response to this on the LNC side where you also posted, I think that IF LNC offer to take over CTP it'd be in cash only, 500 million from coal sales sitting in the bank. A lazy 100-150 million should get most of the long suffering shareholders to agree. LNC also has the sales of two more tenements coming up, as a holder of LNC I'd be dissapointed that they issued large amounts of shares while still holding extensive cash assets.


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## noie (13 October 2010)

New Well for CTP "Suprise1" Spuding today

Not sure why but CTP have decided to provide a bit more info that companies normally do in their announcement, handy for people new to the Drilling process to see the sequence , and time frames

29%, worse odds than the last DUD

(I still hold CTP shares)


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## adobee (14 October 2010)

Fingers crossed surprise is a surprise..  I have to believe that they are drilling surprise in a place that they feel has more chance than JW1..

I am still holding.. we know there is oil.. we just need to smash into that kitchen and get some flowing for market to take off..

Still trying to work out if managements decisions were good or bad for the actual company..  All depends if Pattersons are locked in I guess.. at this stage they havent really done that much to hurt shareholders apart from secure some more finances (or thats the way it looks) without smashing the share holders with an even lower cap rate.. see what happens..


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## basilio (16 November 2010)

Sharp fall in CTP today  from .070 to .062.. Any ideas on the fall just ahead of the Surprise drilling  information?  Not a good look.


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## adobee (18 November 2010)

basilio said:


> Sharp fall in CTP today  from .070 to .062.. Any ideas on the fall just ahead of the Surprise drilling  information?  Not a good look.




you got that right .. no news yet ... 
I am still really hoping for a surprise... I havent watched GAS LAND the movie yet but I think we should get fraccing in the NT and pour some chemicals down these holes and get the surprise to flow.. !!! 

Still waiting and holding.. I really think this will be make or break for CTP.. forget getting any more capital if you cant flow when you have high estimates of billions of barrells..


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## basilio (15 December 2010)

Oh dear.....Not a good Christmas for CTP or their tired and fed up shareholders (grrrr)

The Sunrise  drill has been capped until after the wet season and sometime in the New Year the drillers will be back to see what surprises are is store at Surprise..

They do say the darkest hour is before dawn. I think tomorrow will be 4am.

http://newsstore.fairfax.com.au/app...get_prices=Get+prices+&+charts&code=ctp&f=pdf

 _______________________________________________

Maybe time for a takeover offer ?


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## adobee (15 December 2010)

as a big supported of CTP I have had enough.. they should have dumped this drill company many months back, they have had problem after problem... The fact they did a pump up with the bs coal annoucement yesterday so the inside mates could dump there stocks before they released this news is a joke and they should be investigated by asic..


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## basilio (16 December 2010)

adobee said:


> as a big supported of CTP I have had enough.. they should have dumped this drill company many months back, they have had problem after problem... The fact they did a pump up with the bs coal annoucement yesterday so the inside mates could dump there stocks before they released this news is a joke and they should be investigated by asic..




Spot on Adobee. That is a really disturbing allegation you are making about the company and if it is true  someone should be hung out to dry.  

I think there will be a very large loss of respect and confidence in the current management of CTP which will inevitably affect any intending investors. I believe the assets are real enough but it needs a more effective management team to realize their value.

Again I think it needs a takeover - particularly while the SP is so low.  IMO opinion this would be the most realistic way for shareholders to  get some value.


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## happytown (22 December 2010)

happytown said:


> so ctp's jv partner, trident, doesn't have the $1.5M cash to stump up for Johnstone West 1
> 
> so ctp have said no wukkers, we'll pay for the drilling and if you like the results from the drilling, then, and only then, do you have to stump up cash
> 
> ...




the above post from august

yesterday's ann from ctp

trident energy withdraws from jv with ctp on ep115 as a result of not being able/willing to "make good on certain jv cash payments"


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## adobee (22 December 2010)

things are not looking good at all..  no wonder they didnt want to participate though they didnt even get a look in after all that as the drill was broken..

I am out of CTP for now and probably the future.. whilst they have vast unexplored tenements they just cant get anything together.. is taken years to drill a few holes, the drill crew has problems on every single drill attempt ... this is a real shame..


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## Trader Paul (14 February 2011)

Hi folks,

CTP ... expecting a positive time cycle around 16-17022011.

Though confidence in CTP management remains low, the natural 
time cycles cannot be ignored ... 

have a great week

paul



=====


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## Miner (19 February 2011)

Trader Paul said:


> Hi folks,
> 
> CTP ... expecting a positive time cycle around 16-17022011.
> 
> ...




Hi Paul

Could you please update on CTP ?
It closed at .053 consistently for one week.
When the cycle will react.
I did see the directors are buying and could be the positive effect will start from next week


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## Peter 147 (21 February 2011)

Giday All

As a long time, pre IPO investor in CTP I wanted to keep up to date and see other thoughts are, so I registered.

Sadly I cannot add much more insight other than, for professional drillers, it  seems every time they get close to a win, the drill jams, breaks, gets lost, etc.. 

Thus I have ridden CTP from 15c to IP of 20c down to 18c then 12c then up to 28c briefly and down down down to 5c AND seen much dilution on the way. I am probably sitting on a return if sold off 2c, thus a loss of around 90%.

Presently they are a massive CGT loss to offset against others. So at this stage I am staying in because of the large holdings and potential. I do wonder if a BHP managed operator had CTP would we now have oil?

My 2 cents, (literally)  Peter 147


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## Trader Paul (21 February 2011)

Miner said:


> Hi Paul
> 
> Could you please update on CTP ?
> It closed at .053 consistently for one week.
> ...






Hi Miner,

You were right, Miner ... reaction to that positive time cycle came in a couple
of days later than we expected, with a rally to .057, earlier today.

... still don't trust CTP management on this end ... never have and never will !~!

Their past track record speaks for itself.

have a great day

  paul



=====


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## late_start (11 April 2011)

Anyone here still holding on to the CTP?  After today ann, study report, what do you people think?


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## Buckfont (11 April 2011)

Tossed mine at 0.051c for a small loss. I tend to think that a lot of these explorers if you are 20yo`s may have some upside down the track may have a nice payout. I`m passed waiting for the mega find. Best of luck to all those that hold and may it make your riches grow


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## againsthegrain (11 April 2011)

I actually picked up some more today, was quiet happy with the ann, similar story to bkp back at the end of last year when they released the scott ryder report and a rerating took place.


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## zippy69 (12 April 2011)

Im still holding. They dropped so much it wasnt really worth selling for the amount I was holding. One day i might get lucky and they bounce right back.


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## warennie (21 April 2011)

CTP are sitting on something IMO, there's been a lot of attention on there Southern Georgina coverage, a fair amount of managed fund investment, i noticed comsec and JP Morgan have 1.6m invested between them, cant remember if thats always been the case or there part of the new rush for Sthn Georgina.

I think CTP would be a perfect takeover opportunity for China.


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## vpayne (23 April 2011)

Has anyone noticed that AUCAF.OR have increased in value by 31.585% overnight? This is the ""in between mob"" in ATP-582. Interesting!!!!


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## warennie (29 April 2011)

CTP down 8.86% currently...
Why do i get the feeling something bad will be announced tomorrow, and all of the friends of CTP were told early...

I've noticed a lot of inside trading in CTP, you can always see the price change a lot before every announcement. And often a positive but nothing story is released before a bad story...

Anyone else notice this?


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## Anmar (21 October 2011)

*CTP Announcement*

As of Tuesday 18th Oct:
"Central Petroleum announced that it has issued a Letter of Intent to Hunt Energy and Mineral Co., notifying the Company's intent to engage Hunt to provide Hunt Rig 3 for the intended drilling of up to 3 wells, the Surprise-1 re-entry, Madigan or Simpson East and Mt Kitty in a liquids focussed drilling programme on the Company's acreage position in central Australia. The drilling rig and associated equipment is planned to commence mobilising to the site by 24 October 2011 and be ready for the re-entry of Surprise-1 in the first week in November. The Company plans to complete the drilling and testing of Surprise-1 by about the first week of December."

Anmar


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## Iggy_Pop (9 January 2012)

Surprised to see no discussion on CTP. Thr trading halt could br good news. We should know Wednesday


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## minxb (10 January 2012)

I've been wondering about the trading halt too, hopefully good news.


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## pilots (10 January 2012)

The TH has taken to long for the well to be any good, what they are doing now is trying to make the well look good to raise more money to re drill it, look how many shares this lot have in the market, I would not have any thing to do with it.


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## Anmar (11 January 2012)

pilots said:


> The TH has taken to long for the well to be any good, what they are doing now is trying to make the well look good to raise more money to re drill it, look how many shares this lot have in the market, I would not have any thing to do with it.




11th Jan

CTP lifted the trading halt this morning and shares jumed to $0.062 on the news of an oil find. Board room radio has an interview with John Hoegh MD who thanks investors for their confidence.

Anmar


----------



## pilots (13 January 2012)

Looks to me like its ALL OVER, they rave on about 300/400Bbls, what a joke, the cost of transport will wipe it out, what they are doing now is stalling for time trying to raise more funds.


----------



## bignik (2 February 2012)

In trading halt for another Cap raising. Just what long suffering shareholders need, more dilution.


----------



## Knobby22 (12 March 2012)

OK, they did the raising and there didn't seem to be any trouble getting institutional involvement.
Looks like it could be worth adding to my watchlist at least.


----------



## junhan (21 March 2012)

no one here interested in this? 

should be pretty interesting to watch. some takeover rumors spreading around target 40c even! 

massive moves the past 4days 
unnatural buying patterns


----------



## Ben1234 (22 March 2012)

We are all watching with great interest. CTP has a lot of promise. I for one would not like it to be taken over.
But yes with over 150 mil of shares changing hands over the last few days one begins to wonder. Has anyone else come across any info that may give us some idea of what is going on?


----------



## Chasero (22 March 2012)

Wow, sellers scrambling for the Exits!!

Pump and Dump Lol!

Opened at close to 10c, now its closer to 80c, wonder how it'll close. I already got outa  few days ago


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## ACEz (22 March 2012)

LOL I went in for hope of support, Status is now Pre-open ? lucky i went small.


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## Chasero (22 March 2012)

ACEz said:


> LOL I went in for hope of support, Status is now Pre-open ? lucky i went small.




Who knows tomorrow it might run to 10c again.

I'm happy to stay in the sidelines for now, cuz it can go either way with pump and dumps.


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## Chasero (22 March 2012)

Chasero said:


> Who knows tomorrow it might run to 10c again.
> 
> I'm happy to stay in the sidelines for now, cuz it can go either way with pump and dumps.




I think CTP got the run up amid takeover spec..

anyway, it might open really strong if it is something similar. Trading halt gg


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## ACEz (22 March 2012)

Chasero said:


> I think CTP got the run up amid takeover spec..
> 
> anyway, it might open really strong if it is something similar. Trading halt gg




Trading halt put in place due to " Changing key company management personnel " Maybe There changing management hoping the takeover won't happen ? But I can't believe a European research company valued CTP at around half a billion  But you never know with European "research" companies hahaha


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## pilots (22 March 2012)

Ben1234 said:


> We are all watching with great interest. CTP has a lot of promise. I for one would not like it to be taken over.
> But yes with over 150 mil of shares changing hands over the last few days one begins to wonder. Has anyone else come across any info that may give us some idea of what is going on?




150 MILL is nothing, look how many shares they have out in the market.


----------



## Chasero (23 March 2012)

ACEz said:


> Trading halt put in place due to " Changing key company management personnel " Maybe There changing management hoping the takeover won't happen ? But I can't believe a European research company valued CTP at around half a billion  But you never know with European "research" companies hahaha




did these directors buy CTP close to 20% and 'force' a management change?

Lots of rumours running in the rumour mill. No takeover teehee

Price might crash when it opens.. CTP is missing friday (huge down day) and it stopped itself being dumped midway friday.


----------



## ACEz (23 March 2012)

Chasero said:


> did these directors buy CTP close to 20% and 'force' a management change?
> 
> Lots of rumours running in the rumour mill. No takeover teehee
> 
> Price might crash when it opens.. CTP is missing friday (huge down day) and it stopped itself being dumped midway friday.



Wow there are a lot of rumors and speculation floating around ! 

People seem to be trying to pump this TH up (JV with other companies over there coal etc) I personally think some Insider info was leaked before the TH  

We  will wait and see and IMO the result will be negative ,I think this will re-open at around 6-7 cents.

But you never know  Hopefully I'm wrong and SP will rise when the TH is lifted


----------



## Bonk (24 March 2012)

Maybe my mate in QLD has been buying.


----------



## bignik (26 March 2012)

Just John Heugh being sacked and replaced by COO. Best news from these guys in years.


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## Chasero (26 March 2012)

apparently the old director didn't like farm ins/joint ventures.

New guy will hopefully take ctp in the right direction.

anyway, market likes the news.


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## ACEz (26 March 2012)

Surprised this came out as a positive, sold out at 8.8c.

Hate the uncertainty in this stock , So many things going on behind closed doors , Good long term investment , But at the moment I'm more than happy to step aside and watch this story unravel


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## Chasero (27 March 2012)

God.. I hate selling out so early >_<

anyway, will try and learn from this. Gotta NOT be worried about speculation/ramping/downramping and just stick to clear entry and exit signs.


----------



## Jewels (30 March 2012)

Its not just the long term share holders, but also the market obviously agrees that JH was holding CTP back, lets face it is no Steve Jobbs, and after the "oil flow likely debacle", I'm surprised that ASIC weren't investigating him. I think he should drop the legal action and get on with the next phase of his life, when lawyers get involved only the lawyers win (Unless of course you're Apache!)


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## late_start (1 April 2012)

Anyone care to comment about another capital rising???  Another dilution...  



no longer hold this stock...


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## bignik (3 April 2012)

Clive Palmer bought in via Petroleum Nominees.


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## Jewels (4 April 2012)

If the past is anything to go by, I think that CTP is about to start entering into farm out agreements, and probably with Chinese companies.  A more targeted approach, by people with specific expertise in the area must be more beneficial to CTP shareholders than the shot gun approach that saw JH keep running back to the market for more funds, and diluting my holding.
I'm sure that Clive Palmer's entry to the share register will be very good for CTP's shareholders. Any thoughts?


----------



## pilots (4 April 2012)

bignik said:


> Clive Palmer bought in via Petroleum Nominees.





Can you prove of that Clive Palmer has any thing to do with Petroleum Nominees, we have had so much BS posted about CTP that it is hard to believe any one.


----------



## bignik (9 April 2012)

pilots said:


> Can you prove of that Clive Palmer has any thing to do with Petroleum Nominees, we have had so much BS posted about CTP that it is hard to believe any one.




No, cannot prove it but it was reported in the media that way. PN was incorporated very recently, has bought up a big load of shares with money from 'somewhere' and has an office with the same address as Clive's coal office. No actual ironclad proof but a reasonable theory.


----------



## Bibimbap (15 April 2012)

Confirmed in this weekends Financial Review that Clive Palmer bought a share of Cental Petroleum


----------



## TrendGAIN (15 April 2012)

Certainly looks like a nice chart, good positive volume.


----------



## Jewels (25 May 2012)

The total board is a joke.  I want to put forward a proposal that gets rid of JH & Askin & Co.  Keep JH on as a non exec director and get Dalton on as a director.  
JH has proven over the years that he does not have the required skill set to bring CTP shareholders maximum value, and whilst he has gotten it to where it is now, we need people with expertise in finance, connections with the big end of town, and of course horizontal drilling to get to the next step.
The current board room shananigans shows that ALL the directors only have THEIR best interests at heart.  
Lets get some farm ins happening, get rid of the coal assets all together, and concentrate on proving up central Australia as our next major oil province.  
A more targeted approach is needed to unlock shareholder value.


----------



## Jewels (2 June 2012)

_An article from the West Australian on the 29th of May, may be of interest to those investors in the east._


Palmer wants sacked Central MD reinstated




Billionaire businessman Clive Palmer has bought into a brawl at explorer Central Petroleum, demanding sacked founding boss John Heugh be reinstated.

Mr Palmer accused Central’s board of acting against shareholders’ interests, holding the company back from becoming a producer to position it to be snapped up cheaply by a large oil company.

Mr Palmer, who says his 4.8 per cent stake through Petroleum Nominees makes him Central’s biggest shareholder, is opposing industry veteran Richard Cottee’s proposed appointment to the top job two weeks ago.

He will also push for board representation at an extraordinary general meeting of shareholders to resolve the issues on June 22.

He has nominated three Petroleum Nominees directors for positions on Central’s six-person board.

Central holds a 29 million hectare area in central Australia - double the size of the UK - with ambitious prospective oil, gas, helium and coal assets.

An oil discovery was made at a well last year, but the board had blocked Mr Heugh from developing it, Mr Palmer said.

Ongoing appraisal and/or drilling work is set to continue this month.

"The previous managing director founded the company, found the oil, he was recommending that they get it into production and these guys said they didn’t want to,” he told AAP.

"You’ve got to ask the question: Why was that? Is it a fact that all these guys used to work for large oil companies?

"Are we going to see a situation where large oil companies come along and trample on the rights of shareholders?

"It was discovered over a year ago, nothing happened, shareholders haven’t got a return, why run a company down just to do a takeover from a large oil company?"

Mr Palmer has taken legal action to increase his stake.

There are also moves to spill the board at the meeting.

Mr Heugh was also quoted in a statement released by Mr Palmer, stating that Central should have been in significant oil production by now with attendant cash flow having executed significant farm-out deals.

He has taken legal action to fight his sacking.

The board accuses Mr Heugh of not following instructions and spending $15,000 in company funds on private detectives to investigate exploration manager Trevor Shortt, after a bitter falling out between the pair.

Mr Cottee could not be contacted for a comment.
The company’s shares closed 0.5 cent weaker at nine cents.


----------



## sptrawler (2 June 2012)

O.K lets go back to your original statement that the CAD is due to the 1997 - 2007 years. Please expand on that so we can have meaningfull debate, in relation to the wastage and increased taxes of the last 5 years.


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## Anmar (6 August 2012)

CTP is our top pick in the Australian shale space and we maintain our Speculative Buy
recommendation with a slightly reduced price target of $0.31/sh (previously $0.33/sh) to
reflect CTP s cash balance of $12.1m at the end of the June quarter.
D.J. Carmichael Reserch - 6th Aug 12


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## Anmar (28 September 2012)

Anmar said:


> CTP is our top pick in the Australian shale space and we maintain our Speculative Buy
> recommendation with a slightly reduced price target of $0.31/sh (previously $0.33/sh) to
> reflect CTP s cash balance of $12.1m at the end of the June quarter.
> D.J. Carmichael Reserch - 6th Aug 12




Sept 28th
CTP in a Trading Halt pending the release of a Farm-in Agreement


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## Anmar (3 October 2012)

Anmar said:


> Sept 28th
> CTP in a Trading Halt pending the release of a Farm-in Agreement




Oct 2nd

Central Petroleum announced a JV with partner Santos spending up to A$150m for the further exploration and potential development of up to 13 permit/application areas in the Amadeus and Pedirka Basins in central Australia. Under the farm-out agreement Santos will fund exploration by investing an initial $30m, with options to invest a further $60m in stage two and a further $60m in stage three. In return Santos will earn rights to up to 70% of the area totalling nearly 80,000km². Santos will assume operatorship of the fields during exploration and in the event that they are developed.


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## Out Too Soon (4 October 2012)

Finally, over 2 years I've been holding this for an ~ 20%. Oh for the days when it was 6 weeks for the same result


----------



## Anmar (31 July 2013)

Out Too Soon said:


> Finally, over 2 years I've been holding this for an ~ 20%. Oh for the days when it was 6 weeks for the same result




25th July  Selection from Interview with CEO Richard Cottee:

"The next 12 months are really about 3 things:
• The development of Surprise and commencement of production;
• Commencing an intense seismic and drilling program in conjunction with Santos and Total; and
• The ongoing re-capitalisation of the Company as part of our transition from an explorer to a producer.
More specifically, some of our other major objectives over the next year include acquiring 3,000 kilometres of seismic, gaining a better understanding of Surprise East, hopefully drilling Surprise East-1, drill 2 to 4 holes at Surprise East if Surprise East-1 is a discovery, drill Mt Kitty and drill up to 6 holes in the Southern Georgina Basin.
There’s a lot of activity, but now that we have restructured the Company and have underwritten the large exploration programs, we are in a position to add enormous wealth for shareholders.

The share price has responded to the above and now sits at $0.125


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## Jack73 (31 July 2013)

Anmar said:


> 25th July  Selection from Interview with CEO Richard Cottee:
> 
> "The next 12 months are really about 3 things:
> • The development of Surprise and commencement of production;
> ...




I think the SP will be at $0.15 at close tomorrow.


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## Joe Blow (31 July 2013)

Jack73 said:


> I think the SP will be at $0.15 at close tomorrow.




Jack, can you please explain why you believe the CTP SP will be $0.15 at tomorrow's close? All posted price targets must be accompanied by some kind of explanation or analysis.


----------



## WRONG'UN (1 August 2013)

Jack73 said:


> I think the SP will be at $0.15 at close tomorrow.




I can think of a few reasons why CTP won't close at 15c today:
1. It's nudging the 61.8% retracement.
2. Market Depth indicates substantial supply at 13c, and minimal demand above 12.5c.
3. Rocket ships have a habit of running out of fuel, particularly when people get excited.

Have I missed something, Jack?


----------



## Anmar (15 August 2013)

15th Aug 2013

CENTRAL CONSOLIDATES SHARES

Central Petroleum Ltd (ASX: CTP) (“Central” or “Company”) today announced a 5:1
consolidation of its shares as a final step in the restructuring of the Company. The
consolidation is dependent on receiving shareholder approval at a General Meeting to be
held at its Brisbane Headquarters at 10.30 am on 27 September 2013. The Notice of Meeting
does NOT seek shareholder approval to be able to issue more stock.
Central Petroleum Managing Director Richard Cottee said: “The Central Petroleum Board
believes that consolidating the number of Central shares on offer will help transform the
Company from a speculative explorer to a long-term institutional-grade investment.
“Central Petroleum is set to embark on a series of potentially transformative drilling programs
in the next 12 months that could place Central on the edge of becoming a continuing oil
producer. As such, it is our view that a consolidated share register is more reflective of the
Company’s status and profile as an independent oil and gas producer and developer.
“At this time last year, the Company had a capital structure that would not support the rapid
growth necessary for Central to aspire to become an ASX 100 company. Central had a threefold
problem: we had insufficient funding to cover the capital requirements of our minimal
exploration expenditure, an unhealthy balance sheet due to excess spending, and an equity
register with some shareholders whose focus was not the long-term success of the Company.
“Through farmouts to Total and Santos, the Company now has sufficient access to capital to
satisfy drilling commitments. The balance sheet has been improved by reducing cash burn by
two thirds from $1.5 million per month 12 months ago, to a current rate of $1.5 million per
quarter.
“It is my belief that the Company needs patient, supportive shareholders looking for returns
over the two year horizon rather than the two hour horizon. The recent placement coupled
with this share consolidation is aimed at delivering this stability.”
The resolution at the General Meeting will propose that every five (5) ordinary shares held by
a shareholder be converted into one (1) ordinary share (subject to rounding). If the resolution
is passed, the number of ordinary shares and options on issue and the exercise price of the
options will be adjusted in accordance with the ASX Listing Rules.
Further information in relation to the proposed share consolidation, including the timetable for
the consolidation, is provided in the attached Notice of General Meeting and Explanatory
Statement which is planned to be dispatched shareholders shortly.


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## pilots (27 August 2013)

What will the SP be when they dump the next CR on us?????

- - - Updated - - -



Jack73 said:


> I think the SP will be at $0.15 at close tomorrow.




Jack what will the SP be when they come clean on the CR???.


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## Anmar (27 September 2013)

27th Sept

Central Petroleum Limited in accordance with Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act 2001 (Cth), advises details of the resolution, direct votes and proxies received for the resolution moved at the General Meeting held 27 September 2013, as set out below.

Resolution 1 - Consolidation of Share Capital 

The instructions given to validly appointed proxies in respect of the resolution were as follows 

For   287,311,411     Against   42,175,208     Abstain  208,185,605     Proxy’s discretion   18,462,366 

The motion was carried on a show of hands as an ordinary resolution.


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## Anmar (20 November 2013)

19th Nov   -   CTP Release

Surprise Development Plan

1.   Petroleum Licence

      All NT Government approvals in Place
      Conceptual Agreement with Traditional Owners
      Expect Export Licence in December 

2.    Surprise East

       4,100 bbl tank bought  (3,500 bbls usable)
       Work over crane contracted
       All other equipment (pipes and tubing etc) bought 
       On track to commence in January
       Negotiated Oil purchase agreement - strong market
       On revised budget of $3 million.

3     Surprise West

       On track to commence drilling in March
       On track to commence production in May


----------



## pilots (21 November 2013)

Anmar said:


> 19th Nov   -   CTP Release
> 
> Surprise Development Plan
> 
> ...





All NT Government approvals in Place
      Conceptual Agreement with Traditional Owners
      Expect Export Licence in December , lol.lol. Mate you sure have got that wrong, how long have they been waiting for the PL???, you have a CR coming whats that going to do to the SP??.


----------



## Anmar (19 February 2014)

19th Feb 2014

CENTRAL PETROLEUM PURCHASES 
MAGELLAN’S AUSTRALIAN ONSHORE ASSETS FOR $35 MILLION 

● Palm Valley and Dingo fields purchased for consideration of $20 million and around 
39.5 million shares in Central providing the means to shift Central from explorer to 
multi-field producer in both oil & gas markets


----------



## Anmar (25 February 2014)

*Central Petroleum granted production licence*

Central Petroleum (CTP) has been granted a production licence over its Surprise Oil Field in the Northern Territory.

The company is hopeful that all facilities required for long term production at the field will be fully operational by the week of 10 March 2014.

Surprise West is expected to be cash flow positive with gross revenue margins forecast to be between $50-$60/bbl depending on the volumes produced and the current Tapis crude oil price.

The onshore licence is the first to be awarded in 30 years.

It had recently increased its acreage in the Northern Territory through the acquisition of Magellan Petroleum’s onshore assets, which include the Palm Valley and Dingo fields.


----------



## Anmar (13 March 2014)

13th March 2014

Central Petroleum advised that the Surprise West-1 well has commenced production. The initial flow rates from Surprise West-1 have exceeded expectation, producing around 675 barrels of oil (flush production, not on pump) in an initial 24-hour period. This initial 24-hour flush production is encouraging, flowing at a rate of around 70% higher than the maximum flow rate achieved during the extended production test. A pump has been installed and following final commissioning shortly will be available to enhance production and oil recovery over the life of the well. Initial storage tanks and related production infrastructure have been installed at site in order to make production available for sale. The company plans to announce the initial flow rate of the well when on pump for a continuous period of 24 hours.

The SP is now $0.510


----------



## pilots (5 May 2014)

Whats the SP to day?? whats Surprise flow rates now??.


----------



## raimop (21 July 2014)

French energy giant Total and its junior partner Central Petroleum (CTP) have successfully spudded the Whiteley-1 unconventional gas exploration well within ATP 912 in the Southern Georgina Basin yesterday.This is Total's first onshore well in Australia.

The well is being drilled using Enerdrill's Rig-2 in Queensland, and is being operated by CTP. Data from Whiteley-1 will be vital in assessing the unconventional potential of the largely untested basin. The primary objective is the Lower Arthur Creek Formation, which will be fully cored and sampled for gas desorption and reservoir properties, in addition to an extensive logging program to evaluate the hydrocarbon resource potential.

The second well in the program, Gaudi-1, is scheduled to spud in mid-September in the nearby ATP 909.

Each well is expected to be drilled to a total depth of between 2,500 metres and 2,900m and will be extensively cored, and are estimated to be drilled and cased in about two months on a trouble-free basis.

I hold.


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## raimop (23 July 2014)

Central Petroleum [CTP] has begun clearing works for the Dingo gas field development in central Australia’s Amadeus basin 65 km south of Alice Springs.
This week CTP received a pipeline licence (PL30) from the Northern Territory government. This follows the granting of a petroleum production licence (PPL 7) earlier this year and the more recent approval from the Territory’s Department of Mines and Energy for the preliminary field development plan and the preliminary reservoir management plan.
The development comprises a field gathering system that will connect two production wells to a central processing plant and a wholly owned 45-km pipeline to the Northern Territory government-owned Owens Spring power station.
Start of gas production is slated for first-quarter 2015.
CTP acquired the Dingo field, along with the producing Palm Valley gas field to the west, from Magellan Petroleum Australia in March in a deal worth $AUS35 million.
Dingo field was discovered in 1981. In September 2013 Magellan signed a contract with Northern Territory Power & Water Corp. for the long-term sale of as much as 31 petajoules of gas from Dingo on a take-or-pay basis for 20 years.

I hold


----------



## raimop (30 July 2014)

CTP has today requested an immediate trading halt pending an announcement regarding the SANTOS Farmout Agreement.

In the meantime SANTOS continues to trade ?


----------



## raimop (5 August 2014)

raimop said:


> CTP has today requested an immediate trading halt pending an announcement regarding the SANTOS Farmout Agreement.
> 
> In the meantime SANTOS continues to trade ?




On 31 July 2014 Central Petroleum [CTP] announced that its joint venture partner Santos [STO] has elected to proceed to Stage 2 of an amended Southern Amadeus Joint Venture [SAJV]. This will allow CTP & STO to concentrate their spending on the areas with the highest prospectivity. 

Buoyed by the results of the Mt Kitty well and the 1,587km of 2D seismic acquired during Phase 1 of the farm out CTP & STO will now  obtain a further 1300 km of 2D seismic over the Southern Amadeus area. This is estimated to cost $12million. The cost will be borne by STO and will result in STO earning a 40%c interest in all the permits in the SAJV. These include EP 82, 105, 106, 107, 112 and 147.

A decision on how to progress the Mt Kitty well is expected by the end of August. [In May 2014 testing of the well was postponed due to a rig incident]

As a result of the change of direction by the SAJV Central and Santos’ have elected not to proceed as a joint venture in the Pedirka Basin (EPs 93 & 97). 

I HOLD


----------



## raimop (28 August 2014)

Central Petroleum [CTP]  said on Wednesday [27/8/14] it had been advised by its joint venture partner Santos [STO]  that it is preparing to re -enter the Mt Kitty -1 exploration well in the Amadeus Basin NT. Work at the Mt Kitty-1 well was put on hold in April when logging operations were interrupted following an incident with the drilling rig.

Following the completion of the re-entry operations and evaluation of the well, the joint venture plans to carry out a resource estimation and economics study and plan any future work programme EP 125.

Mt Kitty-1 was designed to evaluate the quality of the Heavitree formation reservoir section, where elevated gas readings were observed during drilling. The well intersected 109 metres of Heavitree formation and flowed at an initial rate of 500,000 cubic feet per day.

I HOLD


----------



## raimop (31 August 2014)

This is an extract from an interview with Richard Cottee that appeared in the Spring edition of "Gas Today"

Q. What are Central Petroleum’s main focuses in terms of gas exploration at the moment, and what do you see in the year ahead for the company? 

A. Our main focus is the Southern Georgina unconventional play with Total – obviously a super major would only go in if they saw a super major-sized prize. There’s going to be $100 million firing into that over the next two years, so that’s going to be pretty interesting. Other focuses are the commercialisation of Magellan assets and development, and solving the Mount Kitty riddle – drilling confirmed substantial presence of gas, but testing was interrupted by a rig problem and showed inconclusive/contradictory results. Retesting cannot occur until the rig is restored.

The Northern Territory is set to become a major gas hub, with the operating Darwin LNG facility, Ichthys Project, Bonaparte LNG potential and significant investment in exploration by operators and by the NT government. What are the challenges in realizing the NT’s natural gas potential? Primarily the NT has to combine with the eastern states through a pipeline. There is always going to be a problem with the distance required, or finding sufficient reserves when the domestic market is the problem for non-LNG discoveries. The infrastructure needs some form of national help to ensure eastern markets are properly supplied. It is in the interests of the whole of Australia that it does occur. Eastern Australia needs natural gas supplies for industry and domestic use – it is an economic imperative that underpins our domestic economic welfare. Challenges lie in ensuring community support – it is vital.

I HOLD


----------



## pilots (1 September 2014)

What is the flow rate at Surprise now, and what is PV producing today, compared with what it was producing two years ago, why has Dingo not come on line be for now.


----------



## raimop (3 September 2014)

pilots said:


> What is the flow rate at Surprise now, and what is PV producing today, compared with what it was producing two years ago, why has Dingo not come on line be for now.




Hi Pilots,
I have looked at recent presentations / reports and advise as follows
Surprise is flowing oil at the rate of 180 - 200 bopd
PV producing 100,000 GJ per month [I think]
DINGO has commencement date of H1 2015

I HOLD


----------



## pilots (5 September 2014)

Why is PV producing only half of what it produced two years ago?? I see CTP have lost the case and have to pay out $1,500,000, to JH, not looking good just now as CTP are going to need about $22MIL very soon, now way would I hold this baby.


----------



## raimop (11 September 2014)

CTP has been advised by Santos, the Operator of Amadeus Basin permit EP 125, that wireline logging in the Mt Kitty exploration well has been successfully completed.

Sidewall cores confirmed that the Heavitree Quartzite is absent in the well and that the previously reported gas flows were from granitic basement. Raw formation image logs indicate that basement is extensively fractured. This is typical of many structures in the Amadeus Basin, and generally enhances productivity.

The well is currently being plugged and suspended. Full evaluation of well results and integration with seismic may resut in a decision to drill an oriented sidetrack in future, aiming to maximise intersection with observed fracturing.

Central Petroleum Managing Director, Richard Cottee said, 'Central is pleased this drilling operation has now been successfully concluded with positive indications of hydrocarbons and helium gas in this large and under-explored area. The results of Mt Kitty 1 have encouraged Santos to proceed with Stage 2 of a farm-in to Central's Southern Amadeus Basin exploration permits, which will see at least 200 kms of a total 1,300 kms seismic acquired in EP 125.' 

I HOLD [but only 10k] anyone else out there have a view about this one


----------



## pilots (4 October 2014)

raimop said:


> CTP has been advised by Santos, the Operator of Amadeus Basin permit EP 125, that wireline logging in the Mt Kitty exploration well has been successfully completed.
> 
> Sidewall cores confirmed that the Heavitree Quartzite is absent in the well and that the previously reported gas flows were from granitic basement. Raw formation image logs indicate that basement is extensively fractured. This is typical of many structures in the Amadeus Basin, and generally enhances productivity.
> 
> ...




 anyone else out there have a view about this one, looking at the SP now I would say its a DOG.


----------



## pilots (21 October 2014)

Its now OFFICIAL its a dog, 4.1c in the old money, come on ramp team tell us what has gone wrong.


----------



## ravishankaray (21 December 2014)

pilots said:


> Its now OFFICIAL its a dog, 4.1c in the old money, come on ramp team tell us what has gone wrong.




Now 1.8c, old money,  .... a lot less than your 5c prediction pilots.

I hope ASIC is looking into this one.


----------



## pilots (23 December 2014)

ASIC what a joke,  they was given CVI on a plate, they had all the info to lock some one up, what did they do, NOTHING, CTP is  trading at what it's worth, I see that the top ramper has unloaded a lot of his shares,you have a merry Xmas and a happy new year.


----------



## ravishankaray (25 December 2014)

pilots said:


> ASIC what a joke,  they was given CVI on a plate, they had all the info to lock some one up, what did they do, NOTHING, CTP is  trading at what it's worth, I see that the top ramper has unloaded a lot of his shares,you have a merry Xmas and a happy new year.




Merry Xmas to you and family too.

There is litigation against one from TS, maybe 242, AODeath ???? wouldn't surprise me.
At least when JH was in charge, the company was making small steps and shareholders fully involved along the way, ie, the SPP's allowed me to get my buy in price from about 20c down to 10c, ($1 - 50c).
Can't see any future for this company within at least 5 years, but now down too far to get out, and just sh..s me that agenda changed once the new bloke settled in with all snouts you know where.
No matter you say no oil in Amadeus, (from memory), still think should have been given the chance and proven one way or other, and drilled like company was supposed to do.
No CTP/AKK threads until early Jan, TS advises.


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## greggles (9 April 2018)

Central Petroleum has been on the move since 1 March when it was selected as the preferred bidder for the Queensland Government's tender for acreage (PLR201718-1-1) dedicated to domestic market. The acreage is located 28kms north-west of Miles.

Central Petroleum and Incitec Pivot are seeking to establish a 50:50 joint venture for the acreage with
IPL providing up to $20 million of funding for exploration and appraisal of the acreage.


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## Ann (1 January 2019)

Anmar said:


> 15th Aug 2013
> 
> CENTRAL CONSOLIDATES SHARES
> 
> ...




This is very old news about a share Consolidation done back in 2013. What I found extraordinary was there was no mention of it anywhere on the headlines for the ASX and when I googled to see if there was any mention...nothing I found. I also can't see any chart adjustment for the Consolidation either. Thank you very much to the person who notified me by PM, not sure if I should mention names but a big thumbs up to you for the alert. 

*WEALTH WARNING: This stock has been subject to a Consolidation in the past and may at some time in the future cause you to lose all your invested capital. Better value elsewhere.*


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## Smurf1976 (18 August 2020)

An announcement today regarding the proposed Amadeus to Moomba pipeline.

https://www.marketscreener.com/CENT...leum-Amadeus-to-Moomba-Gas-Pipeline-31135843/

As background, there's an existing pipeline which runs from the company's gas fields in the southern part of the NT through to Darwin and historically (since the 1980's) that pipeline and the Amadeus Basin fields supplied all of the NT's gas.

Since then, other fields (not operated by CTP) developed offshore have added supply at the northern end meanwhile a link has been built from that pipeline to Mt Isa in Queensland.

A present major bottleneck exists between Queensland and Moomba (SA). A pipeline exists but is of limited capacity relative to consumption in the south-eastern states and potential flows through that pipeline from producers in the NT and Qld. Moomba is linked through to Adelaide and through to Sydney and Canberra and, via other pipelines, ultimately also Victoria and Tasmania.

This map isn't from CTP but it shows the present pipelines. The new one would run from the southern end of existing pipelines in the NT to the north-eastern corner of SA at Moomba.

https://www.energycouncil.com.au/analysis/gas-in-australia-where-is-it-now-and-where-is-it-going/

Putting some figures on that:

Existing pipeline NT to Mt Isa = 90 TJ / day capacity.

Existing pipeline Queensland to Moomba (SA) = 404 TJ / day.

New proposed pipeline = 124 TJ / day from NT to Moomba.

So it's a significant increase in capacity both between the NT and anywhere else, and between NT+Qld collectively to the south-eastern states. That provides a greater market for the company's gas as well as potentially transporting gas produced by others.

Putting the size of the south-eastern market into perspective, average daily consumption for NSW, Vic, ACT, SA, Tas combined over 12 months is about 1500 TJ with peak consumption in winter exceeding 2000 TJ / day.

So the company's proposed pipeline is significant but not to the point of saturating the market etc.


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## barney (20 August 2020)

Smurf1976 said:


> An announcement today regarding the proposed Amadeus to Moomba pipeline.




Know nothing about this one but I see their Market Cap is just under $70 million with $25 million in Cash. 

Quick look shows current debt around $72 million but they paid over $9 million off during last half year so their eps is healthy.

Don't watch many Oiler now days but this one looks to be going ok given recent events.

ps I think the above figures are close but anyone watching the Stock should verify for themselves


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