CTP 3.85% 5.4¢ central petroleum limited

the future,, page-15

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    A pointer to the quality of the Georgina basin should come soon from Petrofrontier wells EP-103 Owen3-H, Baldwin 2-H and another MacIntyre 2-H in EP -127 & 128 which are in partnership of Statoil, Petrofrontier and Baraka energy. The wells apparently not completed last year due to so H2S gas problems, the wet season and loss of drill rig when time ran out on contract and then lack of availability for a another rig. Apparently the conclusion to these wells will happen soon as the wet season is almost finished.

    an excerp from Baraka report:
    Laboratory analysis of the Owen-3 core indicated porosities ranging from 1.6% to 6.7% and low permeability, all as expected. This analysis also indicated that the core fluids contained 90% oil and 10% water. Oil was observed dripping from the core which indicated that it is "movable". Furthermore, no water was apparent on the logs in either the Owen-3 pilot hole or the Owen-3H well.

    That may get a few "dripping from the core" so to speak! BUT the acreage is definitely not as yet derisked.
    The companies involved appear to be quite encouraged by CTP's recent corporate activity in the area
 
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