CTP 0.00% 14.0¢ central petroleum limited

week ahead / what to expect

  1. 1,368 Posts.
    On February 2009 JH discussed during a BRR Radio interview that a new report has identified an area of the Simpson Desert straddling the South Australian Northern Territory border as sufficiently promising to be a serious contender in Australias rapidly emerging underground coal gasification, coal bed methane and gas to liquids industries.

    The independant report stated that found potential for well in excess of one trillion tonnes of coal in the Purni Formation of the Pedirka Basin with estimates suggesting the coal seam potential is very well identified between 200 and 1,000 metres depth

    The recent spudding of CBM93004 the well at 675m in the Permian Purni Formation, the main coal bearing formation the significance of this coal formation to be later confirmed through electric logging confirmation. However it would seem that the initial coal depth reports (200 meters and below) may not be proven, coal bearing formation based on the recent drilling update seems to be a lot deeper and around the 500 meter zones, potentially between the Cadna-Owie and Purni foundations.

    But the drilling stills seams to be on track with an independent report, authored by geologists Phillip A. Jones and Allen J. Maynard who stated that significant coal thicknesses of well over 100 metres of cumulative coal seams in the Purni Formation

    To date based on our knowledge of the drilling at CBM93004 the total thickness of net coal has exceeded 100 meters in depth, quality still to be released to the general public. If the drilling and the independent report align we are still on course to potentially announce significant tonnage of coal.

    IMO this is a significant result bearing in mind that CTP are further encourage through the intersection of five significant coal seams which are currently being evaluated for their contained and producible gas potentials.

    In essence the more coal we find the greater the range of energy available per tonne of
    coal via UCG processes, the recent report did announce that gas monitoring data from drill was 0.5 units being poor to date.

    In review of past reports, and in studying the current drilling information I still maintain that we are onto a significant and now somewhat proven resource under the red sands of the Simpson desert.

    I look forwards to what Tuesday brings and the greatest comfort of them all, CBM93004 may not even represent the most prospective drill sites out of the existing 4 holes yet to be drilled.

    We are on schedule with our drilling, we are in line with past and independent studies and if all pans out the target range for coal could of greater than two metres thickness within Central Petroleums Northern Territory and South Australian permit areas which could produce a range from 250 billion tonnes to over 5 trillion tonnes. As an independent report conluded The figure of 1.175 trillion tonnes is considered to be a realistic"

    Weather did not interupt drill and proves to be a good omen leading into the next 4 holes, fingers crossed for Tuesdays announcement I am sure it will provide more uplifting information for us all.
 
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