CTP central petroleum limited

Ann: Dukas 1 Drilling Update, page-34

  1. 6,461 Posts.
    lightbulb Created with Sketch. 2647
    There's not really enough info in that ann to deduce exactly what the problem is but IMO it's likely an issue with safety tolerances.

    They have taken a kick of high pressure. Each casing string has a kick tolerance which is calculated based on a number of things such as depth, cement and rock strength. If the kick exceeds the kick tolerance it can actually fracture the casing shoe and potentially lead to a blowout.

    The fact they are talking about suspending the well suggests they are getting close to their kick tolerance and Santos are likely leery about drilling further until they work out how to bring it under control.

    In terms of well results it actually sounds pretty promising, depending on gas composition. Santos would have been prepared for high pressure, especially under a salt seal (salt seals can trap much higher pressure gas than shale seals) and would have planned accordingly with high pressure BOPs etc. If they've been caught out by this kick despite the precautions then they may have just had an unexpectedly poor kick tolerance (which can happen if you have a bad result on a Formation Integrity Test at your casing shoe) or, just maybe, they've really hit something big.

    Hopefully they circulated out the kick and took some gas samples.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)
Last
5.5¢
Change
0.000(0.00%)
Mkt cap ! $40.98M
Open High Low Value Volume
5.4¢ 5.5¢ 5.3¢ $2.456K 45.65K

Buyers (Bids)

No. Vol. Price($)
2 275393 5.3¢
 

Sellers (Offers)

Price($) Vol. No.
5.5¢ 127247 1
View Market Depth
Last trade - 15.58pm 25/07/2025 (20 minute delay) ?
CTP (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.