CTP 7.69% 4.8¢ central petroleum limited

ooramina2, page-6

  1. 6,294 Posts.
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    You can't cherry-pick unsuccessful wells when looking at results.

    Drilling O&G wildcats and even appraisal wells like O-2 is fraught with risk and you can expect at least two out of three wells to fail even under the best leadership.

    JH's 2010 drilling campaign was three wells: Ooraminna-2, Johnstone West-1 and Surprise-1. If you are blaming JH for commercial failures at the first two you must also credit him with success at Surprise.

    I agree that JW's Oil Flow Likely was a disaster and JH's handling of Surprise's incident was equally poor, but the eventual success or failure of these wells was due to GEOLOGY, not management or corporate factors.

    RC could not have done anything to make JW or O-2 into commercial successes. Likewise he has no more impact over whether "Mt Kitty and so many other prospects" will be successes. CTP will have the money to drill those prospects because of technical work done under JH's watch, leading to success at Surprise, and the consequent farm-in interest from big players.

    If Surprise is a success, thank JH, not RC and not Askin.
 
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