CTP - Central Petroleum

[Out Too Soon]

Buy @ .135 Sell @ .17 (again)


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

 

[ChrisV80]

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]

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]

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]

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]

Posted 26102009:

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


=====

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]

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.



=====

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]

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]

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 ... !~!


=====

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]

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

 

[adobee]

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 ?

 

[adobee]

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.

 

[adobee]

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 ..

 

[adobee]

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.

 

[Propagate]

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.

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.

 

[adobee]

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

 

[Propagate]

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

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

Cheers.

 

[Bigukraine]

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

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 !!!!!!

 

[adobee]

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 !

 

[ectoplasm]

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