Hi PSI, and others.I believe the announcement to be a positive...

Hi PSI, and others.

I believe the announcement to be a positive one and have tried to put the figures into some sort of context, much in the manner that PSI has done. Thanks for that by the way mate - I always enjoy your posts, so please keep them coming!

With the spreadsheet below, I attempted to take into account what was said, and extrapolate this information into a more holistic figure. I have made some assumptions, as you must always do, so I am in no way claiming 100% accuracy. This is all in my own opinion and when more information comes to light, I may be proven the fool, but for now, let me hypothesize.

I have assumed that the word proximal means an area somewhere between 0-400m from the well-bore. My rationale is that any further hardly could be considered proximal, and nor would be attempted by means of estimation as it begins to be too far for accuracy. Any comments there, PSI or other experts? So going on that figure, I assume the 0.5 - 2Mmbbls range is for an area of 0.64sq/kms, and have extrapolated for each individual value between. The Surprise structure has been said to be approximately 8sq/kms, ergo my maths below.

I think that those figures are more than respectable, and as PSI suggests, would be capable of hosting multiple wells. Even 5 producing wells, at 3-5,000BOPD would be sufficient to put CTP into the big-time. I will not re-post my figures on P/E but feel free to take a look at that post for valuation on those sorts of figures.

Thanks everyone, and I look forward to more input!