The CSG wells are not $5m per well. the conventional wells are the expensive wells $5-$7m(Rig has much higher day rate). Core wells are cheap ~$2m/well.
CTP chose to do the Core CSG wells first because firstly they were cheaper and secondly they needed to do seismic to plan conventional wells. Additionally you need to do a campaign of several conventional wells to make it economic i.e. spread the cost over several wells. if they were to drill one well only it would cost a lot more than the avrage of say 4 wells.
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Mkt cap ! $38.75M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
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| No. | Vol. | Price($) |
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| 2 | 632714 | 5.3¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 5.4¢ | 30000 | 2 |
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