CTP 1.96% 5.0¢ central petroleum limited

where will ctp open, page-16

  1. 609 Posts.
    imho there is no reason why it should not achieve these levels or greater if people are able to digest the significance of this announcement.

    I'd say the 15c resistance will be broken without much effort, followed by a test of 18c resistance, and a next stop of 23c.

    As I mentioned earlier the calculations suggest 10,000 exajoules. 1 exajoule = 1 trillion cubic feet, hence we are talking about a potential 10,000 trillion cubic feet of gas based on coal reserves from
    This figure of 1.2 trillion tonnes is based on 15,000 sqkm for a 60m thickness and it needs to be kept in mind that the company believes the coals extend for a further 15,000 sqkm.

    Although it is just "potential" at this point, they have historic and recent data to back this potential up and IMHO ,overall this ann is one of national significance.

    It would take years to delineate, but within 5-7 years they would have been able to drill enough for a firm BFS and look towards the initial GTL facility.

 
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