The nxt update should b about the gas reserves from this 0.6-1.3 TT of coal. Using a conservative gas saturation estimate of 4 m3/ton (for the Galillee Basin) & a high of 10m3/ton for the above, their independent experts would have narrowed down a Low-Best-High estimate of gas in TCF's.
Should b way north of 35 TCF.
Think I had posted some no.'s back for Conix back in Feb.
Anyway, should b interesting from now on, as interest in CTP is starting to build up.
IMO, major move should come after the group huddle with the JV partners this month. Then its all about hiring the rig & a start-up time for spudding in Late July-early Aug for Johnstone & the CSG wells 2b drilled by BG/QGC.
cheers
CTP Price at posting:
11.4¢ Sentiment: Buy Disclosure: Not Held
