CTP 3.92% 5.3¢ central petroleum limited

Ravishankaray consider: pre new management, CTP drilled what, 5...

  1. 4,702 Posts.
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    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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Last trade - 16.10pm 28/03/2024 (20 minute delay) ?
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