The fracturing at Mereenie and PV has nothing to do with the meteorite (although Gosses Bluff is spectacular and well worth visiting if you're doing the whole Uluru road trip). It's due to tectonic deformation as a result of continental collisions that created the mountain ranges that we see in the area today - events much much bigger than a meteorite strike.
I'm expecting a significant uplift to production for this well because, as I've said many times before, I'm a huge fan of horizontal drilling. Given the choice in a low permeability reservoir between a vertical frac and an unfracced horizontal my experience has been the horizontal will perform better nearly every time.
There are a few reservoir types where vertical fracs are still first choice but on the whole they are yesterday's tech. Mereenie isn't one of them.
So I am cautiously optimistic about this well. The PV and Ooraminna wells are even more exciting - higher risk but they have the potential to unlock big reserves.
CTP Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
