Ravishankaray
consider:
pre new management, CTP drilled what, 5 wells in 5 years (incld a couple of shallow CSM holes)......
spruiked the potential )gas-to-liquids, helium and large structures....
never achieved a decent farmout.........................................
never drilled one of the large bumps
blew the company up via convertible bonds
AKA - classic retirment home
Mr Cottee understands:
1. require cashflow to "survive" in this type of market (hence acquisition of gas production...albeit partly debt funded)
2. need to add cashflows from oil (re-entry to Surprise)
3. need to find partners with deep pockets (farm-outs to majors)
to drive value - Cottee needs to put a "delta" on the (likely IMHO) large gas resources .......the mk prob wont believe this until APA announces construction......the I.P. deal is the 1st of a few required to gather sufficent vol's to underpin that sort of capital.......
i would expect CTP to also look at the potential to supply some of the large mines ......
all of this will take some time !
at least - it is now being addressed (rather than just talked abt)....
Mk Cap - 70m
EV - 95m+/-
the next step is to try and inc gas sales vols - so it geneates enough c/flow to help fund the potential......there are plenty of techo reports highlighting Amadeus/Pedirka/Geogina basins potential......
This will take some time (and capital) ........but at least management are (now ) going in the right direction....
rgds
Value_Hunter
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