CTP central petroleum limited

Ann: Quarterly Activities Report & Appendix 5B, page-13

  1. 740 Posts.
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    That's actually a good point psi81, when were shareholders, or even just those who contributed via the last CR, told of the success (or not) of the 2018 drilling campaign?

    PV13 actually delivered about 9PJ, so you caught me rounding up (am forever the optimist). If you don't believe me, and can't determine it from the announcements, feel free to contact the company and prove me wrong.

    Now I never said a single well was ever going to prove up 127 PJ, however based on the following commentary from Page 9 of the same announcement I referred above, can you blame the average retail investor from assuming as much;

    "Present 2P Reserves are 125.9PJ and, under GAP, have identified three targets where known gas exists in the zone. These targets can be appraised by a $25 million four well programme with no intention of fraccing. If the prognosis is confirmed by drilling, 377.7 PJ (when combined with the existing 125.9 PJ (ie. 3 x 125.9)) could triple our reserves in time to have delivery coincide with the NGP becoming operational."

    Speaking of being wrong, I'm glad to say I was yesterday when I only thought we would go up (or down) half a cent. Bring on Dukas!
 
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