CTP - Central Petroleum

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.

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

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

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!!

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.

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.

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

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

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

Kevan

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....

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.

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.

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

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

Kevan
Have you heard any local talk about CTP. They should be drilling through Pioneer or Arataka by now and maybe some gas ???.

Regards

Kevan

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

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

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.

Regards

Kevan

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.

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

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.

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.

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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