Mt Kitty flowed a maximum of 500,000 cu. ft. /day following which a rig failure suspended logging operations. Gas samples contained around 10% Helium (He) but the objectives of the drilling were not realized in that the column height and gas composition is still to be determined. What is clear is that the Southern Amadeus Basin contains a hydrocarbon source and the Stage 1 seismic gives great encouragement to conduct further exploration.
CTP Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
