I'm not 100% certain which wells produced from which zones, but they have got good gas flows in all the Pacoota SS units including P2 - the one that is supposedly the seal for P3. Whether CTP is using a slightly different definition of P2 and P3 from the original one used in the 1980s when the Palm Valley production wells were drilled, I don't know.
P1 is the main producer because being stratigraphically higher it has by far the biggest closure. P3 is only in closure in the crest of the structure which is where PV12 is being drilled. PV6 also was drilled on the crest in the 80s and flowed gas in the P3 (though nowhere near as much as the P1 where it found the famous Australian record flow of 137MMscfd).
Maybe the P3 is isolated from the P1, maybe it's not if the fracture networks are connected - in that case the P3 is probably drained too. Finding new gas in the Pacoota at PV requires finding compartments of the field that are isolated and not connected to fractures in the existing production network. They managed to do this at PV13 in 2018, proving there is still life in the field. Hopefully they can do it again.
CTP Price at posting:
11.0¢ Sentiment: None Disclosure: Held
