I suspect the reason that their drilling only one Mereenie well isn't forecast to affect the reserves upgrade is because the Mereenie drilling is not about finding more gas (which is already known to be there in the Stairway) but proving that horizontal wells can commercially produce the 2C resource where the existing verticals couldn't.
It's a technology trial. The reservoir characteristics are fairly well understood so if the trial is successful the certifier can apply the results to the field model and upgrade the 2C to 2P where appropriate.
Obviously two wells are better than one for this as they provide more confidence, but one well is sufficient if it's successful.
- Forums
- ASX - By Stock
- Ann: Latest Company Presentation
I suspect the reason that their drilling only one Mereenie well...
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CTP (ASX) to my watchlist
(20min delay)
|
|||||
Last
5.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $37.74M |
Open | High | Low | Value | Volume |
5.5¢ | 5.5¢ | 5.4¢ | $39.37K | 724.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 350638 | 5.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.4¢ | 214525 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 55500 | 0.135 |
9 | 1167237 | 0.130 |
8 | 593133 | 0.125 |
19 | 902443 | 0.120 |
1 | 86000 | 0.115 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 787079 | 9 |
0.145 | 1062465 | 10 |
0.150 | 344400 | 6 |
0.160 | 125481 | 8 |
0.165 | 497623 | 5 |
Last trade - 11.47am 25/11/2024 (20 minute delay) ? |
Featured News
CTP (ASX) Chart |
The Watchlist
ACW
ACTINOGEN MEDICAL LIMITED
Andy Udell, CCO
Andy Udell
CCO
SPONSORED BY The Market Online