CTP 4.00% 13.0¢ central petroleum limited

coal thickness, gas saturation - magical words

  1. 284 Posts.
    A critical factor in CTP's current and future drilling campaign is coal seam thickness averages and associated gas saturation. If CTP can prove up 100's acres of gas rich coal seam beds the share price will fly and option holders (The June deadline) will be saved.

    I am a little concerned there aren't more drills in the ground across the many potential hydrocarbon and He. fields. Drills $ means JV partners! Attracting more JV's and CTP can be free carried over many prspects even whilst ceding 50%-80% of the resource.

    Granted there has been a GFC and OIL price crash and granted the oil supply in the Middle East may tighten to stimulate price even in a protracted economic recovery, but the rate CTP are proving up resources the Sultan's proverbial 100+ children will end up being the beneficiaries.

    Comparison gas yields in the Surat Basin are looking good with BOW's Don Jaun find between 2.5 to 4.8m3 per tonne in thin coal seams and BUL coal seam thickness of 29m has an average gas saturation of 3.1m3 per tonne potential over all their acreage.

    I am looking forward to definitive statements including 3+cubic metres gas per tonne ranging over probable large fields in the next 6 months. I am in for the long haul here but the share price doldrums are an accurate reflection of the companies proformance. No conspiracy theories here please!
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