Further to yesterdays comments taken from CTP's website, I omitted some further info of importance that are of high interest. Please note that CTP's EPA 132 permit in the Georgina Basin is right next door to BKP's EPA 128.
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. “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.”
Carbonate Rampfaciesand Oilplays in the middle-late Cambrian, Southern Georgina Basin, Australia. Preliminary Release 2005 NTGS.
On the adjoining CTP permit there's potential to entrap hundreds of millions of barreels of oil. Surely that means that BKP's permit might also have great potential being next door to CTP. Amazing that BKP was able to tie up an excellent deal with NT Oil.
Speculation here but is it possible that NT Oil might even want to do a backdoor listing via BKP. NT Oil already retains a 25% interest in the 2 NT permits that its farmed out to BKP. It was only 3 odd years ago it tried to float. DYOR
BKP Price at posting:
0.6¢ Sentiment: None Disclosure: Held
