Webinar ?, page-3

O&G Investor

Would like to commend CTP much better communication on our present situation.

• It would be really good if they could revise the presentation adding the comments made at today's webinar and issue it to all shareholders.

I may have a different perspective on the NGP1 because I am looking at it in relation to a number of other projects. My understanding of the NGP1 compression upgrade is that it is further down the track as the midpoint compression station is not in the initial build.

The following is an extract from a post I did a while ago which is based mainly on the information in the SOA.

Page 13 of the PD below

2.00 NGP and NGP Extension Update
Put simply, my understanding is that the NGP capacity is likely to remain at 90-100 TJ/Day for at least 3 years after NGP first gas.

The risk of the NGP not being ready for first gas at end 2018 is very low.

The Incitec Pivot ASX announcement below indicates that the Remaining 30 TJ/day of NGP capacity will be taken up until at least 30 June 2028.

In any case it’s not much good upgrading the NGP capacity without a similar upgrade to the upstream and downstream pipelines so CTP needs to focus on a base case of 60 TJ/day spare NGP capacity in the medium term future.

If the SOA info summarised above is taken with today's webinar and psi81's excellent summary of horizontal drilling then the reader should have a pretty good picture.

I fully support the overarching comments RC made today that CTP should be able to supply the existing NT GSA's and the 60 TJ/day needed to fill the NGP1 to be ready early December.

• I think today that the posts questioning the Mereenie horizontal drilling initiative were well and truly put to bed and the 2 wells will be drilled as soon as it is feasible to do so.

• With a bit of grunting and groaning the respective surface facilities should also be able to process production to cope with this.

• This doesn't mean we are going to make a fortune but it at least means we have a business that could support the SOA valuation in its own right.

This doesn't mean that I don't have a few issues from the past with CTP but they are probably best left in the past as we look forward to consolidating the post NGP1 period.

Best wishes to all

OGP