2020 Mamlambo Drilling Not Likely
""##The fact that the huge debt owed Mac was deliberately not refinanced is proof of that##""
Couldn't agree with that comment truth.
There is no way in the whole wide World IMO that any Banking Institution would go and lend that kind of money to CTP knowing that Mac Bank is involved with CTP and that they are part owners of some of our tenements and that Mac could recall the debt at the snap of a finger and then CTP would be Fuc..d.
CT&P is finished and was taken to the grinder when Board deliberately did not refinance and Mac now have effective control until they call in their loans and take possession of all our producing fields.
It don’t matter anymore who is running CT&P because shareholders have just been taken for all they got but don’t seem to realize it yet. Game over gents...shareholders have done in their next holiday ... Time to look for something else to invest in eg CVN, WGO, STX...
This should have been Central Petroleum with their Helium potential and Dukas;
"A new star is born in helium sector
Future Of Energy > New-energy04 May 2020CommentsShare
Senior Journalist: Oil & Gas, Policy.
Blue Star made several announcements on Friday, telling the market it had not just changed its name, but had also begun in depth helium offtake discussions with mid-stream suppliers.
The company has aggressively acquired high-margin prospective helium licenses in Colorado, US, over the last 12 months close to the historical Model Dome helium field.
Its latest acquisition of 30,000 acres of land over the March quarter took its total gross acreage position to a whopping 121,086 net acres.
It is currently undertaking prospective resource evaluation at two of its projects, the Enterprise and Galileo prospects.
Design for an exploration well and permitting is underway.
While conditions for the US oil patch throughout are worsening, the company expects helium demand to continue soaring.
Blue Star told the market it had been relatively unaffected by the COVID-19 pandemic and low oil price but acknowledged the challenging time for other explorers in the region.
Helium is often a byproduct of petroleum extraction, and while about a third of all helium supplies come from Qatar, North America is also a major exporter of the rare noble gas.
With the oil price at record lows in recent weeks, and oversupply of oil in the international market, helium production is suddenly also at risk as oil and gas producers begin to shut in wells with associated helium.
Helium has a range of industrial uses in health, military, computing and communications, as well as the obligatory party balloon.
In the COVID-19 crisis context, the gas is mixed with oxygen to create heliox for hospital respirators.
Prior to the COVID-19 pandemic, helium had already sustained a period of critical shortage, and Blue Star managing director Joanne Kendrick expects this to continue in the near and longer-term.
In Blue Star's corporate update on Friday, Kedrick said the LNG and natural gas market across North America was likely to push demand and pricing for the gas higher than it was prior to recent events.
Already the price of helium is more than 100 times the price of natural gas.
"There is some helium supply disruption resulting from low natural gas prices and a worldwide LNG glut," Kendrick said.
"It is likely that major new LNG projects with associated helium will see delays as well as a lack of further investment and this will have a more lasting and significant effect than any short-term impacts to demand."
This would "in turn have natural consequences" pushing helium prices up in 2021 and beyond, she said.
Another advantage from the savaged oil price in the US, is the sudden availability of onshore rigs in North America.
While a post-COVID world is difficult to predict with certainty, the company expects its planned drilling program costs to dramatically reduce from previous estimates due to an abundance of oilfield services.
Blue Star Energy's share price jumped 20% at opening. Its shares were trading at 0.6 cents.
The company had about $507,000 cash in the bank.
There is only one other helium explorer listed on the ASX, Renergen Energy, which is mainly focused on its Virginia LNG project in South Africa.
While Big Star has not been hit by the oil price plunge, Renergen has felt the impact of low prices, with revenue dropping 13% to just $220,000 over the March quarter. "
Helium is a good word to use when you are in need of a CR.
An old CTP post, but shows CTP should have gone for their helium, if it is there, plus Leon devaney should not have accepted santos BS excuse for not finishing Dukas.
"You may have noticed that your kids' graduation balloons were a little more expensive this year.
It's due to a worldwide helium shortage that has rocked the global landscape.
The helium shortage has led to a price surge of the gas, a contributing factor in the closure of 45 Party City stores across the U.S. this year alone.
There is no helium futures market, but a U.S. government auction carried out by the Bureau of Land Management last September saw crude helium prices jump a whopping 135 percent on-year for its 2019 delivery, according to Gasworld.
The helium supply crunch extends far beyond balloons and squeaky voices; the noble gas is needed in MRIs, semi-conductors and NASA's rocket fuel engines.
It is the second-most abundant element in the known universe, but it's hard to capture on Earth because of how easily it floats out of the atmosphere and into space.
"Well it's light and it escapes so geologically speaking it has to have a trap and it's very constrained on where you can find helium," said Gianni Kovacevic, chief executive officer for CopperBank and an expert on the topic.
"You are basically paying right now for a truckload of helium $900,000 to a million dollars … Going forward, this is a boom commodity growing by about 7 percent every year," he added.
The United States has been the largest producer of helium since 1925, thanks to a massive reserve found across Texas, Oklahoma and Kansas. But production is set to close down in 2021.
The situation may worsen this summer; one of the largest helium plants in Wyoming is scheduled to take a five-week shut down for maintenance. The closure will take an additional 23 per cent of the world supply off the market.
From an investor standpoint, Kovacevic said investors are not going to be buying helium but junior producers active in the space. "I think you will see helium like you saw cobalt, like you saw lithium, like you saw cannabis. This is coming to a front page on a publication near you."
""(say oil recovers to $US 25 a barrel will that pay the CTP wages)""
You're joking right.??
Just look at what the total wages bill of our Executives, the BOD's and then that famously expensive CS#2 and the come back to me. And don't forget the field people geos, etc., and yes the ones driving those Landcruisers too.
Every other company that I know of are cutting their salaries due to the current downturn, but nothing from CTP.
""(An old CTP post, but shows CTP should have gone for their helium, if it is there, plus Leon devaney should not have accepted santos BS excuse for not finishing Dukas.)""
Rawali, didn't you noticed that they pulled out (Temporarily they said) from the JV with Incitec and that Incitec has sourced the gas needed by them for at least another two years.too.??
I don't think there was any explanation for why IPL chose not to use CTP gas Buddy.
But, CTP, being an exploration O&G company , should be chasing the Helium and getting Dukas finished for a definitive answer for what is under the salt, IMO.
It shits me that another company, santos, is stopping CTP from development, and only allowing the company to produce enough to pay for those in charge of our investment, and seems like LD and cohorts are happy with this.
"Mosman farms down 70% of Top End permit to helium hopeful
MOSMAN Oil and Gas has farmed down 70% of its EP155 Amadeus Basin permit in the Northern Territory, which is still under application to the e private Australian Westmarket Oil & Gas, which is a subsidiary of the private, helium-focussed Georgina Energy.
Central might have missed the boat because of their inaction.
""(and seems like LD and cohorts are happy with this.)""
Why wouldn't they. They are getting paid like nothing is happening and they don't even mention giving themselves a pay cut like may other Company Directors and Executives do in these hard and trying times either.
""((I don't think there was any explanation for why IPL chose not to use CTP gas Buddy.))""
CTP didn't say anything at all about what was going on between themselves and IPL (Incitec). Nothing, not a word. Incitec was the one telling us. And if it wasn't for Incitec telling us that CTP stopped drilling and that they were sourcing gas elsewhere, we would be none the wiser.
Yep only partly answered your questions (ONLY ONE BY THE WAY, none of the other), most probably because they would have hit where it hurts. But rest assured that he would have got instructions from someone before saying or answering to anything.
That is how penny dreadful companies operates. Keeping you in the dark and feeding you a little bit of BS here and there while making sure that they are filling their own wallets
I think LD and other company people do similar to our politicians,who are taught to answer questions without answering questions, a Claytons answer :)
They did not address my suggestion that share holders should be given a fair go and not only the company and staff benefitting from their money making activities.
""((They did not address my suggestion that share holders should be given a fair go and not only the company and staff benefiting from their money making activities.))""
Well mate you are asking the impossible aren't you.??
As if they would care if you are making money or loosing some....................Go Figure.!!
IMHO, if they were to care a very small bit, they would start with giving themselves a pay cut but with some of the people there that is something which doesn't ring the bell at all. I wonder if they are voting themselves another pay raise.
Just wait and see.
We had two opportunities to get rid of this lot, all of them, and we failed in both times with the rampers jumping the fence.
The first one being when we failed in the Sect. 249D to get rid of them all, and the second one was when we were to vote for the second lot of Remuneration Resolution when the first one was voted against them already.
The second one went in their favour because they were telling us that we needed and good and stable Board, if you can call it that.
We blew it mate............that's all.