CPC has reported that it has good gas flows from 3 wells,but has yet to finalise the stabilised flow rates.
Many shareholders/traders have been caught on these delays , after reviewing the releases CPC has taken a cautious approach on its 30% Huntington well which is a low pressure lateral well ,the first of its kind on the large hydrocarbon Rodessa fiels in USA,the pain exhibited here will make progress in the 2nd and 3rd well which follows immediatly after testing Huntington 2h easier to drill, I expect very good flows and very quick returns by gas takeoff's in nearby pipelines,we should hear of this in the next week.
Also the two Helper wells (70%) have encountered gas flows,takeoffs here should be quick....
As the market goes down one has to pick a stock with leveraged cash flows CPC show show this.....
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CPC
carpenter pacific resources limited
CPC has reported that it has good gas flows from 3 wells,but has...
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Ron Miller, Non-Executive Director
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