CTP - Central Petroleum

[happytown]

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

 

[Tukker]

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

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?

 

[BESBS Player]

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)

 

[happytown]

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

 

[BESBS Player]

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

 

[UPKA]

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.

 

[happytown]

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

 

[Datsun Disguise]

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.

 

[UPKA]

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

 

[Datsun Disguise]

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...

 

[adobee]

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 !

 

[Slipperz]

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.

 

[boronia]

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..

 

[BESBS Player]

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

 

[late_start]

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.......

 

[adobee]

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..

 

[adobee]

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 ..

 

[adobee]

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 !!

 

[adobee]

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..

 

[Datsun Disguise]

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?