CTP central petroleum limited
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Ann: Quarterly Activities Report & CashFlow Report, page-29

  1. Liladime
    146 Posts.
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    07/02/18
    20:36
    Post #: 30899128
    Oil&GasInvestor nice post.

    These 4 wells cannot be horizontally drilled, tested and completed for $10M each. More like $15M all going well and that never happens. How many drilling problems have we encountered in the past? Anyone recall?

    They reckon a horizontal into Ooraminna for $5M cannot be done. A vertical maybe? but not horizontal. Which lawyer came up with this figure?

    Bogus!

    This is why suddenly we are hearing just 2 wells to be drilled.

    Now drilling our worst 2 wells with a low probability of success compared to Mereenie is very bad and likely to result in failure which the market will punish.
    Last edited by Liladime: 07/02/18
    CTP Price at posting: 8.8¢ Sentiment: Sell Disclosure: Held
    Likes Created with Sketch.  Upvote
    lightbulb Created with Sketch.  Great analysis
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