CTP central petroleum limited

market cap under $150 mill !! ???, page-53

  1. 1,490 Posts.
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    From memory,

    The not too directional drill head maneuvered in and out of the pay zone for 200m. It only kept within the pay zone for 30 odd metres. The directional head was not of modern capabilities to stay within a few metres as it was acquired on quickly as the decision to go Laterally was decided while drilling the well.

    The Head deviated too sharp IMO from the Kickoff into the Lateral through the unknown formation, hence the pressure on the pipe from the Kickoff to the Lateral. Whether they needed to Kickoff further up or down I'm not sure. They pulled back out for fear of the pipe/drill bit getting stuck and abandoning the hole. The payzone according to seismic does stretch for over a km and beyond. Hence the reason JH wanted to drill 1km away and come straight back to S1. I was concerned that we needed 3d to be sure. I believe that the 3d done after S1 interpreted the size of the payzone to be larger than first thought but to a different direction than first thought. Whether JH/Ambrose had chosen the right direction I am not sure.

    My summary is for such a cocked up job and using Traditional fluid drilling into a known Sensitive formation and to get 400BOD with no down hole pump, Fraccing, Acid Stimulation or air/gas drilling(as Santos has done in Central Oz for years now), this well if done properly would yield 1000BOD minimum. Don't forget, the quality of the oil is terrific. The samples of the fluid retrieved were 96%oil.


    Get a few more laterals from the same hole and you could probably get up to 5000BOD. Then multiply that by 7-10 wells.

    IMO
    DYOR
 
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