STAGE-GATED PLAY ANALYSIS

Application of Play based analysis incorporating Stage-Gated methodology to CTP exploration prospects is said to have revealed prioritised sequenced development plans. Their presentation publication is said to be planned for end this month.

Plans likely form basis of technical development of prospects for next five years. Articulation now is timely providing owners / shareholders time to familiarise, understand, analyse, interpret, develop ideas, responses, and action plans for energetic interaction at AGM mid November.

Initial impressions are Play based analysis may set out rational science informed exploration programmes.

Application of methodology to CTP ground is said to have, in this case, identified opportunity 8 kms from currently shut-in Surprise. Prospect Mamlambo is said to be potential 31 million barrels oil with 30% chance ( geologic or financial ? ) of success.

Mamlambo success would give confidence to return to and do more work with and around Surprise and nearby leads. SOA also refers to Surprise shale oil prospectivity.

MSMN has built geologic interpretation EP145 near Mereenie with prospective shale gas market value AU$16 billion. MSMN are waiting on Dukas drill data to correlate geology. It is intriguing to know if CTP Play analysis has also shown unconventional propectivity around Mereenie. CTP has shale horizons in several prospects with known shale prospectivity drill untested.

Publication of Play Stage-Gated analysis likely outlines technical staff preferred exploration prospects development, sequence,timeline perhaps something like :

NEAR TERM : ( as soon as practicable )

Mereenie re-completions P1 45 wells, P3 19 wells, P4 3 wells, and 3 new wells to P4.

Stairway new drill access plan ( following unsuccessful WM26 )

Dingo re-drill.

Palm Valley convert 2C to 2P urgently.

Range demonstration drill and production testing parallel with pipeline access negotiations.

MEDIUM TERM : ( 1 to 2 years ).

Dukas after new well drill design with 15000 Psi rig, equipment, and availability.

Mamlambo seismic and drill

Ooraminna ( after Palm Valley / Stairway works ? )

Dingo seismic and drill nearby leads.

LONG TERM : ( 3 years plus )

Surprise seismic drill following Mamlambo success.

Georgina Basin seismic, re-enter Ethabuka dry gas discovery well ?, new drills.

Wiso Basin seismic. Drill following further drilling results Beetaloo.

It is intriguing to know if new Stage-Gated Play analysis also shows unconventional prospectivity on CTP ground. Shale horizons are already known in several CTP prospects and MSMN geology analysis draws attention to potential unconventional prospectivity around Mereenie - if confirmed Mereenie unconventional propsects may considerably re-value what is now thought of as a depleting resource.

Following last Fridays Quarterly Report Webcast i put some clarifying questions to CEO / GM Exploration by e-mail. I would have liked to have informed my post with their answers. I have not had a response at time of publication.