As a follow up to my previous post, most of us are expecting the samples collected from our first spud to shed light on core sample gaseous results, with luck these results should be made within the next few weeks.
with the anticipation that our company will eventually be a major player in Coal Bed Methane (CBM) Coal Seam Methane (CSM) and Coal Seam Gas (CSG) It is no hidden secret therefore that the exploration of CBM is locating the sweet spots in known areas.
The Pedirka Basin is not only known as holding sweet spots this is supported through a myriad of research, independent studies past drilling and seismic results. We know from our first spud location that one exceptional readings has been described by CTP primarily JH, we also know that CBM is mainly sought within the Permian coal seams. With a firm belief CBM107-001 should prove to holder greater formations of coal within the Permian coal seams than previously documented.
The mapping of our resources is slowly taking place; this shall allow CTP to target a more focused exploration campaign for the next stage of developments within the Pedirka Basis. If we intend to be successful and maximise our investors funds we need to accurately see the portrait in order o canvas the picture on paper.
I am excited that CBM107-001 and onward drilling locations within the Pedirka Basis should prop up CTPs resource masses both in terms of coal quantities and gas production opportunities. A commercial operation needs the right combination of coal thickness, gas content, permeability, drilling costs the amount of dewatering required to allow gas flow and proximity to infrastructure.
Putting CTPs massive prospects into perspective, CBM potential lies in the Pedirka Basin in permits EP93, 105, 106, 107, 130, 131, 149 and PELA 77 in an area of approximately 30,000 km2 within two formations; the Permian Purni formation and the Triassic Peeri Peeri formation.
Do expect the realisation of CTPs commercialisation of CBM to unfold and watch the market rally behind CTP once coal thickness and gas contents have been established. We are on the road to recovery and establishing a foot hold into the arena of CBM commercialisation.
My sentiment remain a buy
CTP Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
