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CTP - Central Petroleum

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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 ..
 
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 ?
 
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 ?
 
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 ?
Click to expand...

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:(
 
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. ..
 
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
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

Phase Two 2010
3– 8 conventional wells (Amadeus Basin) :
Johnstone–1 oil up to 998 MMbbls UOIIP Ordovician (Mereenie style) and other horizon
Magee–2 gas, condensate, Helium, up to 500 BCF UGIIP,15 BCF Helium UGIIP, subsalt
Waterhouse–3 gas, 2.0 TCFG UGIIP
Mt Kitty–1 gas, condensate, Helium 3 TCFG, 180 BCFG Helium UGIIP– 430 km² subsalt
Subtotal $16–50 million, CTP $8–25 million
Click to expand...
 
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 ...
 
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.
 
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 ..
 
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?
 
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?
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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
 
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?
Click to expand...

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 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.
Click to expand...

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.
 
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
 
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 :).
 
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
 
By yesterday i meant friday, my bad :p.

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
 
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
 
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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