CTP

3.64%

5.3¢ central petroleum limited

If they was to test it properly and it’s a failure then what,...

First 6 Last

Share
Profile

Follow
TopSahara

8,530 Posts.

660

18/11/22

10:37

Post #: 64850810
Share

Originally posted by psi81: ↑

It's hard to know whether it's a goer or not because they have completely misjudged the appraisal of it right from the start. The money and, even worse, the time they've wasted is very frustrating. It's been years.

I predicted this result as soon as they announced the single well pilots, because single well pilots have NEVER worked in tight Walloons coals. And yet a decade after every other operator in Qld CSG had figured that out and CTP's 3-well pilot had failed to flow much they still drilled two single well pilots.

They seem to have been clueless as to why the 3-well pilot failed and they blamed the thinner net coal intersected. And even worse, when they say "Range permeability appears more variable than exploration wells had indicated" it suggests to me they are STILL clueless. It's common for exploration wells to show decent permeability when you MDT them (because MDTs do not draw down reservoir pressure significantly) and then that permeability to crater when put on production, particularly with a single well pilot. That's because (to oversimplify it a bit) when you pump off the well you draw down the wellbore pressure and the elastic rebound closes up the cleats.

The part of the basin that Range is in is a tricky geodomain (for some quite technical reasons I won't go into) and I don't know for sure whether it will turn out to be commercial, but this isn't the way to test it. You have to mimic a production scenario - drill 10 to 12 wells in an extended pilot and turn them on together at a very low rate. The wells all help to dewater each other and you actually get the entire reservoir into the desorption window and releasing gas.

If CTP can't afford to test it properly then they should divest it. They've tried to test this on the cheap up to now and it has clearly failed.

Expand

If they was to test it properly and it’s a failure then what, look what would happen to the SP.

CTP Price at posting: 8.4¢ Sentiment: Sell Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

CUF

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

HotCopper Highlights: Your most watched stocks for Week 46, 2024

IRX

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

CLE

Cyclone signs MOU with Vale for development of Iron Bear play

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

EEG

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

GDM

Banshee's historic trenches prove rich in antimony and gold for GDM

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

First 6 Last

Add CTP (ASX) to my watchlist

(20min delay)
Last 5.3¢		Change -0.002(3.64%)		Mkt cap ! $39.49M

Open	High	Low	Value	Volume
5.5¢	5.5¢	5.3¢	$83.26K	1.516M

Buyers (Bids)

No.	Vol.	Price($)
2	234750	5.3¢

Sellers (Offers)

Price($)	Vol.	No.
5.5¢	340510	1

View Market Depth

No.	Vol.	Price($)
1	49750	0.053
3	283253	0.052
4	561685	0.051
3	365000	0.050
3	40418	0.041

Price($)	Vol.	No.
0.055	340510	1
0.058	100000	1
0.060	99559	2
0.062	11500	1
0.069	200000	1

Last trade - 16.10pm 15/11/2024 (20 minute delay)

CTP (ASX) Chart

If they was to test it properly and it’s a failure then what,...

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

HotCopper Highlights: Your most watched stocks for Week 46, 2024

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

Cyclone signs MOU with Vale for development of Iron Bear play

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Banshee's historic trenches prove rich in antimony and gold for GDM

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

If they was to test it properly and it’s a failure then what,...

Top Stories

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

HotCopper Highlights: Your most watched stocks for Week 46, 2024

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

Cyclone signs MOU with Vale for development of Iron Bear play

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Banshee's historic trenches prove rich in antimony and gold for GDM

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News