Is yr mate in the Brissie or ADL office? He's not wrong when he said coal is deep on B-1.
At B-1, the well depth is @ 2128m, page 3 from the previous CTP announcements shows a time-depth curve & a formation log on the left. The Purni formation is whats been refered to as thick & it extends from 1500 to 2128m (thats 628m thick).
The coal is interbedded in this carbonaceous Silty layer (CTP's log data should show that hence the 160m net coal ann'mnt).
Most CBM wells are shallow (u can check out AOE/QGC/BOW/BUL's an'mnts etc) but that doesn't mean CTP cant get gas out of B1 coals. Simply put, one simply frac's this coal & lets the gas flow.
The good thing for CTP is the future 2 wells are shallow, so this seam could b a bit thinner but shallower then 1500m, in my opinion. Depending on the location of these 3 wells alone, its not hard to tie them up to a production facility, that will b something CTP will have to embark on once they calculate the revised reserves based on thknesses available to them by then.
cheers
CTP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
