Australian (ASX) Stock Market Forum

CTP - Central Petroleum

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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."
Click to expand...
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.
Click to expand...
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.
 
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..
 
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.
 
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!
 
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 ..
 
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.
 
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. :D:D
 
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.
 
Announcement, spudding delayed again :(.





buuuuutttttttttt.....



only til this friday :D.


Reckon CTP will be compensated given that 31st May was the deadline?
 
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.
Click to expand...

I'm not a good reader of these reports but that sounds like a dud to me.

Anyone else care to comment?
 
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.
 
We have a spud :D:D.

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.
 
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 :D

Cant wait till we hit 1200m, its sideways till then :(
 
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 :D 7 days till options trading ceases, hmmmmmmmmm!
 
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.:)
 
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.:)
Click to expand...

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.
 
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.
 
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.
 

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