CBM93004 is ~10 kms updip from 93001 in the shallower part of the shelf, so should b a quicker drill. The 'top' is prognosed at 550m, so we should b there by Thursday.
They should half finished running the 9" casing in the upper part of the hole & then its quick drilling to the coal top. Coring will b the slow part of this well, but its necessary in delineating the final gas reserves.
The only piece of the puzzle missing is the 'gas saturation'. I am not bothered abt the JORC, its been done & collated in that report that came out in Feb about '1.18 TT coal', remember. It's not a coal mine they r after, hence, the need to know the gas satn. 3-9 cubic metres/ton is my ball-park estimate. That's the vital data, we need from these 5 wells, they already know the vitrinite content, coal maturity/quality etc etc.
Note that a coal seam flow is different to a conventional sandy/carbonate reservoir, so anything above 200 mcf+ flow should b good, when it comes down to the DST stage.
Think we should get more clear results in early Jan. The coal seams are like sitting ducks, as is evident frm the seismics, so lets hope all goes well with the coring part this time around.
More later.
CTP Price at posting:
15.7¢ Sentiment: Hold Disclosure: Held
