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Very interesting AGM today. Pretty good organising to hold the meeting 40 minutes after an announcement of 20 metres of oil shows. A lot of optimism on display. Part of the petroiferous core from last years Surprise drilling campaign was on display, and still smelt like and oily old motor. Very small crowd.

The most interesting bit was a short talk by the new drilling expert (who was flying out to be on site at Surprise later today), Dalton Halgren. Remember the name as he could be the key for a change in fortunes for CTP. I gather he is a fairly forceful character and his views on changing the plan in the current drilling prevaled. He wanted to quickly and cheaply drill to total depth to save money, which could be better spent on a horizontal leg or legs into the stairwell standstone. He said he had examined last years cores and he thought that they were analogous with the Tyler formation in the US. He also said that whatever flow rate is possible with a verticle well, then a three fold improvement was the most likely result with a horizontal.

They were all keen to deepen the well into the top of the salt dome, which looks quite impressive on the seismic. They had a big poster of the seismic of Surprise on the wall( about 2 foot square).

Saltbus