CTP 0.00% 5.3¢ central petroleum limited

Ann: Palm Valley PV13 Encounters Strong Gas Flows, page-5

  1. 6,293 Posts.
    lightbulb Created with Sketch. 2496
    Yes, it's massive, although your BOE calculation is 1000x too high, it's 2480 boe per day. It's about 14 TJ/d - in other words basically as much as the entire rest of the field combined. They seem to have drilled into virgin reservoir, a separate compartment in the PV field, which was of course the hope.

    The big unknown is whether this is a well-developed network of fractures like in the rest of the field. I have known plenty of wells in tight, fractured reservoirs that have flowed >5 MMscfd on test, but then blown themselves out in month or less because they are only tapping into a very small fracture volume.

    But PV is a geological anomaly in that it comprises an excellent network of intersecting, perpendicular fractures, which has allowed the field to produce long-term. It's nearly depleted now so finding flow rates this high basically indicates a separate compartment, which obviously isn't connected to the rest of the field. We'll have to wait and see how big, but if this rate is sustainable it'll be a fantastic result. Plus it's 100% CTP so Mac doesn't get a jot of it!
 
watchlist Created with Sketch. Add CTP (ASX) to my watchlist
(20min delay)
Last
5.3¢
Change
0.000(0.00%)
Mkt cap ! $39.22M
Open High Low Value Volume
5.3¢ 5.4¢ 5.3¢ $52.12K 978.8K

Buyers (Bids)

No. Vol. Price($)
1 454057 5.3¢
 

Sellers (Offers)

Price($) Vol. No.
5.4¢ 46397 1
View Market Depth
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
CTP (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.