Phase One 2009 commenced December 2009 : CSG drilling and seismic - 5 fully cored CSG wells- (Pedirka Basin) - 2 to go, now 4 wells confirming over 100m net coal - GoreTM survey Johnstone, NW Mereenie - 2/3 complete -1,350 line km (Amadeus and Pedirka Basins) - 1/2 complete Subtotal c.$25 million
Phase Two 2010 commencement Q2 2010 : 3+ conventional wells - Ooraminna-2 gas, 2 TCFG UGIIP - already flowed gas-spud May 2010 target - Johnstone-1 (and/or Surprise, Stuart and NW Mereenie) oil up to 500 MMbbls UOIIP (shale gas/oil potential, will core the HVS) - Magee-2 gas, condensate, Helium 0.8 TCFG, 15 BCFG Helium UGIIP - previous flow - Simpson Prospect Block EP 97-oil Subtotal c.$22 million
CTP Price at posting:
39.5¢ Sentiment: LT Buy Disclosure: Held
