Buyers showing interest on a positive news release to market

Potential Buy Entry Alert to Watch CTP

Time Frame : Daily/Weekly

Sector : Energy/Oil and Gas

Key Stats : $103.44 Million Market Cap, VWAP 0.15, ASX Ranking 778, 4 Week Av Turnover $125,152, Current Turnover (Intraday as at time of alert) $375,535.

Company Overview : Central Petroleum Limited (CTP) is an oil and gas exploration company. The principal activities of the Company consist of development, production, processing and marketing of hydrocarbons, and associated exploration. Its operating segment includes Producing assets, Development assets and Exploaration assets.

Broker Consensus : Not covered by a major broker

CTP – Central Petroleum Limited

CTP is a small Oil and Gas exploration company that looks set for buyers to start the march up through 0.20 for a new leg higher. A drilling update today has seen a small spike in the volume and a move up showing some interest from the buyers. We are now watching the action for a higher low to build with higher than average volume and then the daily charts to build the buy entry setup. If oil picks up a head of steam then we expect the action to heat up.

Stock Code : CTP – Central Petroleum Limited

Company Website : www.centralpetroleum.com.au

Current Price : 0.15

Status : On watch for potential higher low and push up through 0.20