Club Mulgoa

Tuesday, September 21, 2010

CTP

http://www.asx.com.au/asxpdf/20100922/pdf/31sn0yhsr34cfw.pdf

Don't ask me how to read a drilling report. But if there is a 98m oil column within 128m of hydrocarbon with no water, under the ground, then it must be significant. Yet CTP is below my average buy price. I bought when there was only hype and seismic studies suggesting oil, gas and He. Now when oil has been discovered (but not quantified), the share price is lower.

Em... what kind of logic is that? Because I missed out on buying AVBOB, I have shifted the money to CTP. But don't buy CTP if you have no stomach for losses. Because a 98m column of oil is just a column. Will it flow up and out? What is the extent? Inshallah! I only know that a 98m column has been found and CTP is only 11c. Good to live simply and calculate only using simple arithmetic.

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