MEREENIE PRODUCTION WELLS WM27 & WM28 COMPLETED
The operator of the Mereenie joint venture, Central Petroleum Limited (ASX:CTP) (“Central”)
has advised that drilling and completion of the new production wells WM-27 and WM-28 has
been completed and the Easternwell Rig 27 was released on 23 September 2021.
Central’s announcement and media release is attached, the key points are:
• the Mereenie recompletions and development programme is anticipated to add
approximately 10 TJ/d of wellhead capacity (Joint Venture 100%)
• both wells have been tied in and WM-28 is now online and producing from both the
Pacoota-1 & -3 reservoirs
• the WM-27 well has been completed as a single zone Pacoota-1 producer and is
expected to come online shortly
As announced on 25 May 2021, Cue has executed a sale and purchase agreement to acquire
a 7.5% interest in the Mereenie gas and oil field and 15% interest in the Palm Valley and Dingo
gas fields in the Amadeus Basin, onshore Northern Territory.
All conditions precedent to the transaction have now been satisfied and the parties will move
to complete the transaction on 1 October 2021
courtesy of Bell Direct
i do not hold this share
went briefly to 11c before coming back to 10.5c
Will always be the same.
They are only benefitting the bod, management, Santos, (holding us back, re the Dukas sub salt no drill), Macquarie Bank, and employees.
Might as well say CTP is privatised as Cottee wanted, from 2012.
Central Petroleum still has no credibility from the market and no concern or care for share holders, IMO.
As Prato on hc says, any good announcement and the SP goes down.
Our CTP MD, should have stuck it to Santos to insist on Dukas being completed, or should have taken steps to drill our own Amadeus sub salt.
but, but, but, wtf would i know except I am $80,000 plus, down with my 2008 "investment" in Central Petroleum.
I paid equivalent of 80c to $1 per share , when I first got involved with this company.
hi GOO, don't know whatever happened to pilots or Buddy.
What ever happened to Surprise, as no mention of that now from CTP and oil price moving up.
Seems only prato, yourself and I, still disappointed with CTP ongoing non performance for share holders.
But O&Ginvestor on hc has started seeing how ctp under achieving for us and the market.
And no word or info from our CTPSA, everyone's gone silent and seem to be happy with Cottee's reference to the company being 3 generational or similar words, .... we're halfway through the first generation now since my first "investing" in CTP.
When I first invested , there was no talk or actions against general hydrocarbons, ... mainly against gas from coal operations, but now a lot of people, banks, etc, not wanting their money invested in carbon producing enterprises.
So, the way they are running our company, as I see it, will only benefit the company and not share holders, ... mainly because of their doing deals with the "gorillas" like santos, MB, so not being able to operate completely independent and get on with drilling and exploring to hopefully create interest and wealth for share holders.
so how is JV partner IPL going ..that seems to be the best source of information ( at least on the JV )
Seems to have been a contrived privatisation attempt since 2012 when Cottee fooled us into voting for him at John Heugh's expense, although he was compensated in court.
So, nothing has changed for us share holders, the owners of CTP.
IMO, they should get rid of Macquarie Bank and Santos, do the sub salt drilling, create an incentive for share holders with a dividend, etc, become independent of the fn gorillas and get fair dinkum.
"Agreed, but if it could be that good and the price is so high, it does beg the question “ why isn’t Santos moving on it.”
I’m not betting on any helium or hydrogen . Santos have given up on CTP. My view only, DOR."
These gorillas do not want the likes of CTP interfering with the status quo, or any unnecessary competition, IMO.
And why in hell when they, (the supposed drilling experts), were drilling sub salt Dukas, were they not prepared for higher gas pressures ?
Was a all just a stalling tactic IMO and Leon Devaney and crew should have read them the riot act and acted independently, as IMO, John heugh would have done.
It all seems as if CTP is allowed to operate at a certain level, ensuring the company does very well, thank you, but not good enough to interest the market or benefit share holders, ... has been like this since the deals were done with Santos.
good one from hc;
"numeraire....not sure I agree with your optimism.
CTP have sold half their revenue producing assets in a rising market. It only gets better for the new buyers from here.
Surprisingly, Range is years off and their other exploration/development activities appear to be on another slow burn.
Dukas and the other "carrot" Zevon might be next year, or the year after, who knows. Its all in the hands of STO and they have a lot more juicy prospects on their plate for the next year or two.
The Amadeus - Moomba pipeline has dropped off the radar as well.
CTP Mgt have gone quiet again, not a lot to talk about I guess.
Much better prospects in O&G available right now.
Aholes looking after themselves and not the share holders.
just watch out .. Gladys will be looking for a job soon and she seems to co-exist with disasters