This presentation from the new hands on the tiller is very...

This presentation from the new hands on the tiller is very welcome.  It freshly, clearly describes the opportunities and challenges ahead. Mr Market liked it too.

CTP will not completely fill NGP spare capacity from opening, yet we can expect an immediate and very substantial rise in production and revenue - now only weeks away.  

"Poised to almost triple gas sales in late 2018 with the commencement of the NGP."

There is engineering work to be done and gas loans to repay, so net cashflow this FY may disappoint even as the balance sheet strengthens.  I still expect Ooraminna to be drilled to protect the permit.

The slide 27 comment:

• Strongly placed to take advantage of exploration, development and M&A opportunities in the NT and east coast Australia

Suggests the team is pursuing join action with neighbouring leaseholders in the Surat basin. At the moment CTP has a free carry with IPL on one block.  A partnership with adjoining holders might be very productive, lower risk and IPL wouldn't mind if this raised gas volumes or brought supply forward.

CTP is also "Tendering for new acreage releases in Queensland." The Qld government is keen for increased gas supply from independent operators, which favours CTP.

While Mereenie is pipe capacity constrained, Palm Valley is not and a successful PV13 would be terrific.

Drilling away.

Ash