RPM 0.00% 17.5¢ rpm automotive group limited

2p certification

  1. 1,214 Posts.
    A good announcement today stating that
    "Netherland, Sewell and Associates, Inc. of Dallas, USA, have been engaged to advise the Company on obtaining certification of the coal seam resources in the lease."

    Now this says nothing other than the plan to obtain 2P reserve certification is proceeding with some outside expertise.

    But, interestingly, there are now 5 holes that need to be incorpoarted into the model. PD 1, PD 2, (current program) Lawton 1, Lawton 2 and Trafalga 1 (drilled by Queensland gas back in 2001)

    Also, Roma have a known conventional gas deposit in the lease - Nth Cherwandah - which was supposed to be drilled some time ago by the now defunct White Sands (WSP)

    The range of estimates for the CSG reserves that have been quoted is very large but even at the lower end of the scale RPM is sitting on a very valuable asset.

    and a footnote to another VPE operated drill...
    'In the Wirraway discovery well the oil reservoir was damaged during drilling/completion operations and hence has a production capacity of 50bbls pd'.... thankyou VPE

    All in all, very positive for RPM
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