CTP 4.00% 12.0¢ central petroleum limited

3 wells program, page-2

  1. 609 Posts.

    a few quick responses for ya

    1 can they get a rig?

    Tough market at present but i think it will be achievable, He Nuclear and PXA Id assume would have the paramount job of attaining a drilling rig. Given dawes connection with the chinese and cmr they should be able to attain one from somewhere for the oil wells. Unsure about He Nuclear - am unfamiliar with their background.

    2 is it possible in wet season?

    Surely is -they can go in and drill, then plug the wells. Problem will be getting the infrastructure in and out during the wet season as the access road would more than likely be hampered.

    3 can they do it on time?

    technically easily - these wells are theoretically shallow and easy to drill, conventional type plays. The problem I believe will be the paperwork and organisation behind getting as far as to drilling a well, there seems to be some lagging there and missed timelines is common for the CTP management team.

    See how things pan out - its a long term play to gain the greatest rewards.
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