CTP 0.00% 5.4¢ central petroleum limited

The lot of you here have, A: Never run a business before, or B:...

  1. 1,490 Posts.
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    The lot of you here have,
    A: Never run a business before,
    or
    B: haven't run one long enough.

    Crap can happen and when you least expect it. There is no memory of what has happened in the past, so to complain that it always happens to CTP and that it is CTP's management fault is ludicrous.

    The only complaint I have is if there was anyone from CTP management at the Drill site 24/7. Industrial Espionage is rampant Globally. Also, there should be CCTV footage available for viewing.

    The blunder here IMO is by Century Drilling. Huge Gross Mismanagement and Blunders IMO from a Highly Paid Specialised outfit.
    I wouldn't be surprised if some of the Goons here are from the Drilling crew themselves trying to save their jobs or a serious lawsuit.

    Any breathalyser tests taken after the incident or blood samples for amphetamines ?

    The $10 to $20 Million per hole charged is in question here.
    If they were legitimate accidents then so be it. There should be insurance taken out by CTP & Century to cover this also so that they may return and complete S1.

    But if there is any negligence by staff, then I'm afraid Century should not receive a cent as the damage done to CTP is catastrophic towards the ability to efficiently raise more funds to drill the same holes that were ruined.

    The loss of core samples, bits stuck down the hole, deviating holes, Known petrologically sensitive seams filled with drilling fluids for a prolonged period of time, drill rig and rods twisting around the rig etc, etc, etc is unacceptable for the money Century are being paid.
    IMO They drilled down for core samples, that's it. They knew they were tight plays, so untainted core samples were needed to analyse for future fraccing. There is no way they were expecting a natural flow to the surface from natural fractures as the seismic was not accurate enough to exploit natural fractures.Oil flow likely was only announced after the pressure results that were given to CTP Geos from Century.
    There are two things that could of happened here
    A: Results inaccurately measured by Century or,
    B: they stuffed the hole from the prolonged time the drilling fluids spent in the hole after all their accidents.
    I believe B:

    There are reports that Santos had similar problems next door so they opted for the costlier Air/Gas Drilling method as the Mud Drilling method had the possibility of damaging the producing seams as they are sensitive if the mud fluid was left in the hole for prolonged periods of time. As you can see, if someone wanted to create problems for CTP, it is quite easy to make it all look like an accident.
 
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