Ann: Central Signs Drilling Contract with Ensign, page-35

I can clearly see with CTP that they are in a mess with their proposed exploration program. If they were to have drilled the Mereenie wells first it would have helped the share price and gas sales contracts. But a big problem exists with Macquarie and their selling out of CTP which is not good for our creditor to be pissed at us owing them $80M and a 50% interest in our major production asset. This is why I believe contrary to company spin we are not drilling our first best wells at Mereenie.

Going after the dud PV is a waste of $10M as last hole drilled by owners who clearly understood their field and geology and fracture system was dry and extremely expensive. So how can a lawyer run company with 1/10 the geological manpower of former owners do better? Cannot!

Ooraminna has to be a long lateral but justinmetals reckons it' vertical and $5M should do it. Well the $5M will be a waste of money too because last MD tried to intersect fracture system with a Vertical and it barely flowed. 2 attempts at Ooramina already with a Vertical hole flowed minimal gas. Need a long horizontal Which would cost $15M and not the $5M they budgeted for another vertical which will likely do no better than the first 2 holes.

Wait and see what happens to our share price on these plugged and abandoned wells.....2c to 4c and another cap raise.

Strategy by lawyer run company is wrong and basic dot joining missed yet again.