CTP 1.85% 5.3¢ central petroleum limited

The first thing to remember is that stopping drilling with...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 6,333 Posts.
    lightbulb Created with Sketch. 2536
    The first thing to remember is that stopping drilling with 10,000 psi BOPs doesn't mean the formation pressure encountered was necessarily anywhere near 10,000 psi. BOPs are the last ditch defence against a blowout, but you don't want to risk having to rely on them. There are several other things to worry about such as kick tolerance at the casing shoes which could cause them to stop drilling.

    I'm not a drilling engineer and can't speculate on when or how drilling might continue.

    I suspect the pressure in this well is higher than any I've been involved in, though I have encountered overpressure at similar depths. The highest mud weight I've used is about 13ppg. But those were shale seals which are limited in the pressure they can support. Salt seals can potentially hold higher pressure so the degree of overpressure could be enormous. Sub salt plays are pretty rare in Australia, at least onshore.

    The risk at Dukas was always going to be reservoir. If they are getting significant gas influx that may suggest they've found something permeable (you don't need much permeability to flow at this sort of pressure). But these rocks are incredibly old and deep and I'm going to wait for a flow test before I get carried away.
 
watchlist Created with Sketch. Add CTP (ASX) to my watchlist
(20min delay)
Last
5.3¢
Change
-0.001(1.85%)
Mkt cap ! $39.49M
Open High Low Value Volume
5.4¢ 5.5¢ 5.3¢ $12.07K 219.8K

Buyers (Bids)

No. Vol. Price($)
1 163385 5.3¢
 

Sellers (Offers)

Price($) Vol. No.
5.5¢ 300000 1
View Market Depth
Last trade - 15.44pm 01/11/2024 (20 minute delay) ?
CTP (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.