CTP central petroleum limited

Ann: Mereenie Development Well WM30 Completed, page-3

  1. 6,449 Posts.
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    So we should be looking at about 31 TJ for Mereenie from early March. Great result and exceeds the pre drill target. The only downside is the rest of the field is still declining steadily so this won't keep it above 30 TJ for long, no more than a couple of months IMO. Probably a good 18 months though to drop back to 25 TJ which is where we were before they hooked up WM29. Which is a great result but does indicate they will need to keep working to maintain production - they will probably need to start chasing the Stairway sooner rather than later.

    PV is fairly steady at 7 TJ/d, Dingo doesn't report to AEMO as far as I can see but would be doing about 4.5 TJ. Reserves situation at Dingo is very healthy, when CTP first bought the field it had 2P of 29 bcf which is about 30.6 PJ. It's been producing 9 years and 2P is now 45 PJ - 50% higher despite production of 9.5 PJ in that time.

    Now would be a good time for an updated MST report. And also a great time to announce a farm in partner for Jacko Bore.
 
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