Leverage to Appraisal of Unconventional Resources
OUR VIEW
CTP holds a massive portfolio of permits and applications across Central Australia which are prospective for oil, gas, helium and coal. Exploration to date has not resulted in a commercial development and is a costly exercise due to the scale of the acreage, CTP’s high equity interest and costs of drilling campaigns. However some promising results have been achieved with recent core analysis at Surpise-1 revealing live oil shows and promising permeability, worthy of follow-up drilling. The company has also identifi ed a massive coal exploration target in its Pedirka Basin permits which it is looking to farmout to delineate a resource across the shallow areas. Of particular interest is CTP’s large position across the emerging southern Georgina Basin shale, with an appraisal program in adjacent permits set to commence this quarter. CTP recently released the results of an independent assessment across its acreage, estimating 5bnbbls and 33tcf of prospective resources. It also recently fl agged a planned TSX dual listing.
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