Rob, I understand the TD for the rig exceeds centrals requirements so, it will have the ability to drill the deeper oil plays (perfect for the pedirka given the potential depths of source rocks) whilst comfortably eating the CBM wells for brekky.
Spaced on a reasonable grid, CTP could define the 34-70 TCF of gas potential in a relatively short timeframe given the ease of rig set up (approx half a day to set up) and taking approx 5 days for each CBM well to be drilled and completed.
The mobilisation is the part that takes a while so if central can get a rig like this operating which takes half the crew requirments and a fraction of transportation truckloads etc it would be of SUBSTANTIAL economic benefit to them and over a period of time it would comfortably pay itself off. Mobilisation is a very expensive task - especially in this grass roots area. The CTP team comfortably has the ability for Rig Ownership/Operatorship.
Hence in saying that, if the company finds oil in Blamore/Simpson i'd be in full support of them purchasing their own NEW rig asap with the funds to really accelerate this campaign and not be reliant on tight global rig availability hence having to use the old rigs (most 20 years +) currently on Australian shores.
I 'think' JH has this covered.....
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