Australia's largest stock trading and investment forum Australia's #1 stock forum

CTP

1.96%

5.2¢ central petroleum limited

Hi OGP, Thanks for your contribution, most interesting. I wish...

First 6 Last

Share
Profile

Follow
klaas

308 Posts.

11

08/03/18

12:06

Post #: 31616110
Share
Originally posted by OilGasPlanning ↑

Drilling Summary from the webinar

I have all the rig details if anyone wants them.

View attachment 1001506

In fairness to RC he was pretty forthcoming at the last webinar.
I have laboriously typed out the webinar recitation and it is well worth reading.
It is of particular interest now we are about to start drilling and I have taken the liberty of highlighting the main points in red & black.
I expect that CTP will issue bulletins as they proceed.
View attachment 1001503

Done…

The Mereenie Drilling is also subject to the ACCC decision… Mereenie itself, WM26 and WM 25 are in the stairway formation.

Looks like it (Drilling) will happen pretty close to these dates…

The spud date is 6 to 8 weeks since we announced so that becomes somewhere between the ides of March (15 March) and Easter Sunday (1^st April).

How long will the drilling take?

Cut & Paste from webinar....

The Mereenie wells will take somewhere around about 35 to 40 days each and Ooraminna will be somewhere about 18 days or thereabouts because it is a plain vertical… so we are pretty confident it is going to be 90 to 120 days before we get the full suite of results.

Clearly the sequencing of the wells if ACCC approval comes in on time we will do WM26 or the Mereenie well first then Palm Valley and then Ooraminna so we move the rigs furthest from Alice Springs and then close to Alice springs and then the other side of Alice Springs and that follows the commercialisation regime because Mereenie is the one we commercialise first with the upgrade if the ACCC comes through.

We have done a lot of fracture modelling and so we have a high of confidence that our modelling is correct and that’s what we are applying what’s called the rotary lie detector on our model to see whether we are absolutely right.

The chances of there being no gas at Mereenie are fairly remote obviously on there being no problems with the drilling touchwood.

My Comments

Put simply the rig move and rig up look like they will proceed basically as planned & start drilling at Mereenie.

I have already factored moderate success of the drilling campaign into my models.

Don’t panic if there they encounter problems with one or more of the usual suspects when drilling… this is quite normal.

Initial results can be encouraging but it is best to wait for extended tests.

I am particularly interested in the scope of works that is needed on the Mereenie Surface facilities and am curious to know whether this is going to be paid for by the MAC 50% share say $10M to match CTP’s $10M for drilling.

I consider the saving of approx. $1 on pipeline regulation to be a good guess and have used this in my model.

Best Regards

OGP

Expand

Hi OGP, Thanks for your contribution, most interesting. I wish our other posters would ensure that they stop rubbishing their own investments. I wonder what visitors to this site think about the other posters.

Good Luck Klaas D.Y.O.R
CTP Price at posting: 11.0¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Chaos reigns markets – so let's take stock of where we're at ahead of December

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

There are more pages in this discussion • 2 more messages in this thread...

First 6 Last

Add CTP (ASX) to my watchlist

(20min delay)
Last 5.2¢		Change 0.001(1.96%)		Mkt cap ! $37.74M

Open	High	Low	Value	Volume
5.1¢	5.2¢	5.1¢	$26.20K	512.1K

Buyers (Bids)

No.	Vol.	Price($)
3	325000	5.0¢

Sellers (Offers)

Price($)	Vol.	No.
5.2¢	54161	1

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 - 13.57pm 28/11/2024 (20 minute delay)

CTP (ASX) Chart

Hi OGP, Thanks for your contribution, most interesting. I wish...

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Chaos reigns markets – so let's take stock of where we're at ahead of December

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Buyers (Bids)

Sellers (Offers)