tapis soars again

With regular monotony the Tapis oil price keeps rising rapidly. Petrol is going to be very dear at the bowsers once the latest run of rises work their way through the system. Which on the way up is usually very quick.

Todays rise was $1.17 which is up 0.88% to $US134.09.

Quite remarkable. When the EPT starts CTP could be netting close to $90 a barrel, as no royalties applie during the EPT and transport is the major cost of getting the crude to market. In the recent interview JH said he expected the transport costs to be in the vicinity of $20 to $25.

Looking good. We may have the timing right for a change, and start selling oil whilst the price is sitting on record highs.

For those paying attention the next set of important news (announcements) will most likely be around the EPT.

400 barrels a day @ $90 is $36,000 a day.

$250,000 a week nett to CTP

$1,000,000 a month nett to CTP from one piddling well which may still cleanup some more and produce at a faster rate.

If the EPT goes well , then after the seismic is completed we could have three wells in production by christmas. The next wells should be in more optimium locations with longer horizontals and state of the art competions. We should be able to look forward to substancial cash flows in 2013.

Saltbus