the next big cult stock, page-47

The Ooraminna gas prospect lies in the EP82 area and the Ooraminna 1 well was the first petroleum exploration well drilled in the Amadeus Basin in 1963. The well was then not properly tested and it was commercially unsuccessful but was a technical success having flowed gas to surface
even after many of the fractures had been plugged by inappropriately heavy drilling mud and an abnormally long 60 day hiatus between drilling and testing.

Since then, CTP has managed to conduct and reprocess the latest seismic data to identify a new test well. CTP is targeting estimated potentially recoverable petroleum of up to 1.9TCF of gas at high level.

The target zone is the relatively shallow neo-Proterozoic Pioneer and Areyonga Sandstones with the much deeper Heavitree Formation under the Gillen salt seal representing a target for follow up drilling in later campaigns.

The depth to the primary target is only 1,400m and apart from the gas flows to surface from Ooraminna 1, gas seepages have been reported over many parts of the structure and especially nearby close to the target
test well location.

More information can be seeked through the following link, well woth a read, look onpage 13.

http://www.oilbarrel.com/fileadmin/content/pdfs/Brokers_Notes_August_09/Brokers_Notes_Sept_09/MPS-CTP-Update-May-2009.pdf