And now we have our resident fracking expert almost ready to take over, maybe we should recall CTP's supposed next "ADVENTURELAND" - the Southern Georgina...
EXTRACT From the CTP website - and may we be also days or weeks out before it happens...(ie THE granting!)
Anyways
"The Georgina Basin EPA 132
Central, via its wholly owned subsidiary Merlin Energy Pty Ltd, has taken out a 120 block (10,000km2) permit application in the South-eastern Georgina Basin, regarded by as being the most prospective basin in the Northern Territory. The Southern Georgina Basin of 150,000 km2 has the following attributes making it prospective for significant accumulations of petroleum:
a.Only 8 wells drilled, some of which had no pre-drilling seismic and none of which were located on valid structures
b.20 stratigraphic tests conducted to date
c.Only 750 line km of modern seismic
d.Abundant petroleum shows, especially in the Middle Cambrian
e.Over 40 billion tonnes of petroleum has been estimated to have been produced and expelled from the Middle Cambrian from the Arthur Creek Formation where source rock analysis has shown TOC values up to 16%
f.The Arthur Creek Formation (where BARAKA are now investigating) exhibits fair secondary porosity in limestone units and porosity of 5–17% in the Steamboat Sandstone where drilled; the target horizons of which are anticipated to be terrestrial or near shore marine channel sands or delta lobes (see CTP site for the diagram) of good to excellent porosity and permeability
g.Oil shows to date in the Middle Cambrian have been mainly unaltered, mature, aromatic crudes of marine origin In EPA 132, Central is primarily targeting potential shallow channel sands and delta lobes of the Steamboat Sandstone member of the middle Cambrian Arthur Creek Formation at easy to drill relatively shallow depths of from 500 to 1,000m identified on neighbouring blocks from seismic and assumed to potentially run into EPA 133.
The channel sands are thought to be some 200m vertical thickness and up to 5km in width while the delta lobes may be of much greater volume. Clearly, such conceptual targets have multi-million barrel potential. Analogues of this sort of conceptual play type are to be found in the Jurassic Smackover Formation in the Oaks field in Louisiana. or in the Lena-Tunguska Province of Siberia.
“Seismic signatures within the Steamboat Sandstone depict stacked beach ridge/barrier/deltaic facies and tidal channels up to 200 m thick, with potential to entrap hundreds of millions of barrels of oil.”
Such an intersting bit of land(CTP anticipated 6.4 million acres), and maybe Mr Dalton Hallgren's MAGIC TOUCH with over eighteen years of diversified experience in the oil and gas in directional and horizontal exploration will certainly now give CTP greater respectability with now its REAL OPERATIONS MANAGER at the helm.
Should make many of those so called critic HC experts now know where much of the money often goes but also knowing that these EXPERIENCE EXPERT people like Mr Dalton Hallgren feel THE future security in taking a role and JOB with CTP is at all no problem to them. (That was recently plastered with smarties sayings its just about to go broke and certain people leaving for particular reasons - SORRY you were wrong AGAIN).
CTP Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
