CENTRAL PETROLEUM LIMITED (CTP.AX)

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22nd May 2008

This company could be a monster! Seriusly worth a look:
http://www.centralpetroleum.com.au/



Overview



  • Listed on the ASX March 2nd 2006



  • Biggest acreage portfolio in Australia 50 million acres 100% operated



  • Whole of basin exploration opportunities


  • “Yet to find” Amadeus resources unrisked up to 35 TCFG or 6 billion bbls (NTGS 2005)



  • CBM prospective recoverable resources Pedirka Basin 34–70 TCFG (P90–P10)



  • 6 well initial programme targeting 300 MMbbls oil, 3.4 TCFG and 105 BCF Helium subject to additional capital and/or farmouts



  • Over 200 prospects and leads



  • Genesis of the Company 1998 when oil traded at $12/bbl



  • Long range GTL plans for gas, 10,000–140,000 bbl/day pre-feasibility studies completed



  • Recently completed (Jan 2004) infrastructure direct link to Port Darwin



  • Experienced management



  • Good risk spread in different basins, different play types and different commodity marketing targets ie gas, oil, condensate, diesel, naphtha, jet fuel and Helium



  • Farm-outs completed and in progress towards formal agreements:



I have held shares since the IPO a few years ago, and they have basically been waiting to start drilling since then getting land rights, access roads etc..
But that has all changed recently they are about to start drilling, they have a potential of 12 billion barrels!



I recommend having a good looked at this company (Now)
>50 million acres in under drilled central Australia,
>About to start drilling (finally) - Mullti target progame.
>Farm-in's in place
>With a market cap of around 60 million, if these guy hit oil it will take of >like a rocket.
>If they don't you may lose half your money! so do your own DD.


To much potential for me to stay out of this stock.


For their latest company news releases from CTP.AX look here:

http://asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=&asxCode=ctp



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