Why Dukas Is Not Being Drilled

  1. 82.0k

    on the positive side ( of the release posted above )

    it is more enlightening and comprehensive , than common it the past

    good luck holders

  2. 3.4k


    Central petroleum should have been in the limelight by now with their Helium potential.
    Slack arses only considering themselves.
    Vote the aholes out at first opportunity.

  3. 171

    Here here!

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  4. 3.4k

    Even Psi is starting to see the light.
    Our company has been .ucking with us since 2012, since JH removed, and Cottee tried to privatise us and give it to Macquarie Bank, as well as his gorilla Santos.

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  5. 457

    even if we sold the assets we would get more than 20 cents per share
    gross incomitance

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    good post from kryptic, hc;

    "just my opinion but at this point a 90 to a 100 million market cap for CTP in the middle of nowhere is probably fair value, it's not pre 2010 where potential projects gave the sp a kick, they are worthless these days.
    Let's face it there is better places to put your money other than the oil and gas industry right now, you might as well have it in the bank than here in CTP and the only reason I'm still invested is it gives me something to read now and then, that's about it.
    Seeing directors remunerate themselves handsomely while doing sweet fa is nothing new, we've all seen it before, they don't care about us mug punters, they'll just spin a bit of bulls%$t now and then to pacify the riff raff.
    We can dream of the day that we find people that were as interested in milking oil and gas rather than us :) unfortunately those days are gone."

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    What's happening here with Incitec pivot ?


    Gibson Island struck down
    THE gas supply crunch manufacturers have been warning will drive them out of business has hit with fertiliser and explosives maker Incitec Pivot, announcing the closure of its Gibson Island plant in December next year after it couldn’t secure another gas contract.

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  8. 457

    ctp you are a joke

  9. 4

    Gasoroil, have you just only realised that????, I would have thought that after the well at Surprise you would have known that this mob are only in the game for the salary's, should have taken Pilots advice years ago.
    PS, Dukas was a duster.

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    This latest announcement mentions the "Surprise oil Field" in regards to the Malamblo potential oil well, but there are no details about Surprise now, ie, whether it is still operating or run dry.
    Also, CTP do not answer my emails now, when I asked about Incitec Pivot closing down next year, etc.
    Even my email to CTPSA has been returned as not delivered, so looks like CTP is getting closer and closer to ahole Cottee's privatisation.
    What a pack of scum bags.

  11. 4

    there are no details about Surprise now, ie, whether it is still operating or run dry.

    Its not dry, its just that its not going to produce enough Oil to pay its way, loads of wells like that.

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  12. 171

    CTP board does it again. Blah blah blah future this and future that. Hiding failures, hoodwinking the shareholders yet again.
    Pathetic 11.5 SP again ( which I predicted) which they do not address at all. Big salaries continue unabated. When will all those wearing rose coloured glasses come to their senses?

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    ** Its not dry, its just that its not going to produce enough Oil to pay its way, loads of wells like that. **

    at $US 80( plus ) a barrel ??

    something isn't working so well

    some other small producers have ' break-evens' less than $US 40 a barrel

    and bigger players like BPT have the luxury of capping high-cost producers and wait for better conditions , using the economic wells

    you don't see NHC ( Bridgeport Energy ) crying about poor prices and it is selling locally

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    Results of 2021 Annual General Meeting

    all proposals passed by it looks like 90% plus

    i have no idea how they managed to find that many satisfied investors

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    waiting, ... "there are no details about Surprise now, ie, whether it is still operating or run dry.

    Its not dry, its just that its not going to produce enough Oil to pay its way, loads of wells like that."

    Why do they refer to the the "Surprise Field" in their latest announcement, and if the well is uneconomic, why tf don't they tell us ?

    I think they are so controlled by their salaries, the Gorillas, Santos and macquarie Bank and IMO, are definitely not forgetting about their failed privatisation and SoA attempt and are themselves keeping the SP as low as they can.

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    " ABC News
    Fertiliser prices boom as Incitec Pivot plans closure of Gibson Island plant
    8 hrs ago

    Fertiliser supplies are another concern for farmers battling rising costs. (Submitted: Queensland Alliance for Agriculture and Food Innovation)© Provided by ABC Business Fertiliser supplies are another concern for farmers battling rising costs. (Submitted: Queensland Alliance for Agriculture and Food Innovation)
    With global prices soaring, it seemed odd timing this week for Incitec Pivot to announce plans to close one of Australia's largest fertiliser plants.

    The rising cost of another commodity — natural gas — appears to have sealed the fate for Incitec's Gibson Island facility in Brisbane.

    "Despite extensive efforts, [we have] been unable to secure an economically viable long-term gas supply," the company said in a statement to the ASX.

    "The decision to close the Gibson Island manufacturing facility after more than 50 years of operation is expected to impact up to 170 employees."

    The company said it would cease manufacturing with natural gas at the end of 2022 but was looking into the potential of green ammonia.

    The facility has spent decades converting gas into fertiliser products. According to its website, it has the capacity each year to manufacture 300,000 tonnes of ammonia, 280,000 tonnes of urea and 200,000 tonnes of ammonium.

    Fertiliser supplies tight
    Incitec Pivot's decision to cease production at Gibson Island joins a long list of fertiliser news going against Australian farmers.

    China has enforced a ban on some ports exporting fertilisers, and more recently Russia invoked a six-month quota on its fertiliser exports.

    "Incitec's [announcement] is not ideal in light of the other dynamics going on ... and we need to get our product from somewhere, so it's going to be a challenge," GrainGrowers chair Brett Hosking said.

    "So to hear reports [about Incitec] has thrown another spanner into the works and that little bit of extra complexity in a grower's mind around how do I make sure I'm covered and how do I make sure I've got product?"

    According to Thomas Elders Markets analyst Andrew Whitelaw, the announcement by Russia was another "death by a thousand cuts" for Australian farmers.

    "The China ban is worse for us," he said.

    "Russia's quota will mean hundreds or thousands of tonnes, not millions of tonnes lost to the global market, but it comes at a time when we need every tonne available.

    "So it's another weight against the fertiliser price, which is a really big challenge for Australia."

    Research by Mr Whitelaw shows Australian wheat farmers need 2.8 tonnes of wheat sold to buy a tonne of diammonium phosphate (DAP).

    "The biggest risk for a grain farmer in the coming year is buying high-priced inputs but not having high-priced grain," he said.

    Inputs rising across the board
    Paul McLaughlin grows watermelons and peanuts in Central Australia and normally orders his fertilisers six months in advance.

    "It's looking like it's going to be a 40 to 50 per cent increase on most fertiliser [prices] going forward, and that's if you can get them," he said.

    "Farmers who are not ordering them early enough might have trouble getting the fertiliser when they want it."

    He said fertilisers were not the only input increasing in price and hurting margins.

    "Our diesel has gone up 50 cents a litre on 12 months ago, wages are up, and we're paying 10 to 15 per cent more for freight than 12 months ago ... so hopefully the demand for melons will counteract the extra input costs we've got."

    It's the gas, gas, gas
    One of the largest issues facing the fertiliser industry is the cost of natural gas, a major input in ammonia production.

    Prices for natural gas reached historic highs in recent weeks as surging demand for the fuel in the Northern Hemisphere collided with tight supplies.
    ************************* In 2018, Central Petroleum signed a short-term deal to supply gas from its operations in the Northern Territory to Gibson Island, and has since entered a joint-venture agreement with Incitec Pivot to develop the Range gas field in Queensland's Surat Basin.

    Managing director Leon Devaney said it was a tough situation for Incitec Pivot.

    "We supplied gas from Amadeus Basin to the Gibson Island plant for one year, and then [Incitec] re-contracted with another supplier for subsequent volumes," he said.

    "I know they've been out looking for gas to supply that Gibson Island plant into the future, and that obviously didn't result in a gas agreement and have decided to close Gibson Island in 2022.

    "There's certainly gas available; the issue isn't so much the availability of gas, it's the pricing."

    Mr Devaney said he was confident Incitec Pivot would remain fully committed to the joint-venture Range project. "

    What is going on here, when they are about to drill for gas in the Range deal ?
    Do they already know Range will be a duster ?
    And CTP still has not answered my email to them asking about this .

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    will they ?? ( fertilizer prices rocket ) , Nufarm and WES aren't jumping for joy ( neither is Orica )

    if prices do rise one factor might be rising costs

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    5 Directors being given hundreds of thousands of shares as part of their employment pig trough.

    Our SP is now about 10% of what it was when I invested in 2008, and these clowns are happy to ride along on the gravy train, oblivious to long term share holders.
    So, nothing will change for us mug punters because CTP is still not doing anything to interest the market and it seems determined to keep punishing those that voted against Richard Cottee/Macquarie Bank taking over with their SoA, and ensure the SP does not go any where near 18c again..

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  19. 82.0k

    Fortescue and Incitec Pivot in talks for Australia’s first large scale renewable ammonia plant
    Fortescue Future Industries (FFI) will commence negotiations on a potential deal to convert one of Australia’s commercial-scale ammonia production facilities to run on renewable hydrogen, potentially rescuing the plant from closure after a study found the conversion technically feasible.

    The FFI study found that converting the Gibson Island ammonia facility, operated in Queensland by Incitec Pivot, to using hydrogen produced from renewable energy sources rather than fossil gas would be possible.

    The two companies will now undertake an engineering design study that will detail the expected cost, timing and commercial opportunities of the plant conversion, with a final investment decision expected to follow.

    Incitec Pivot said that the Brisbane ammonia facility could ultimately use up to 50,000 tonnes of renewable hydrogen a year to produce more than 300,000 tonnes of green ammonia, with Fortescue constructing and operating an onsite electrolysis plant to supply the facility with renewable hydrogen.

    That level of green hydrogen production would require electricity supplies from around 1,000MW of wind and solar capacity. It would allow for a complete replacement of the ammonia plant’s existing fossil hydrogen feedstock.

    Last month, Incitec Pivot announced that it planned to cease manufacturing operations at the Gibson Island facility as it was unable to secure an affordable supply of fossil gas. However, the prospect of retrofitting the facility with an onsite green hydrogen supply could provide the facility with a much needed lifeline.

    lifted from another forum ( and poster )

    now since FFI has bit of experience building solar farms has CTP anything to be concerned about like FFI ( FMG backed ) just buying out all or (say ) the Australian part of IPL .

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    I didn't get a reply to my questions regarding IPL from CTP.
    Par for their course.

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