Why Dukas Is Not Being Drilled

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    Santos likely trying to renegotiate the farmin deal because had they just drilled a bit more to total depth they would be holding 70%. Now the next step is to bring a rig from overseas to finish the well and that is big dollars. CT&P directors are in no hurry to renegotiate because they would like to give their current equity in Dukas to Mac as part of their own personal deal when they hand all the assets with liens over to them.

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    Just like Cottee tried to do when he was MD and sold us out to Mac.
    Nothing has changed. Directors are only there to personally gain and have no regard whatsoever about shareholders except to pretend they do on the day of the AGM...

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    CT&P is like a dead man walking...Amazing how the shareholders completely missed the most significant matter of refinancing the Mac loan and get rid of them. Instead they went to Mac for extension with a whole better deal for Mac ...

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    ###Now the next step is to bring a rig from overseas to finish the well###

    Horse poo, many rigs here that could do it, now some here wont like this, BUT!!!!, it wound not surprise me that they know that Dukas is a dud, IE empty.

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    Can you please tell me which rigs here in Australia can be used Pilots and I will ask someone I know in Santos what’s going on!

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    Truth now your sucking up pilots ass. Stop It.

    Haha

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    I'm with pilots I recon the well is most probably gas shows. That aren't commercial, and Santos might be trying to get some money out of central to drill the last bit, so central can lose some money too

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    "Can you please tell me which rigs here in Australia can be used Pilots and I will ask someone I know in Santos what’s going on! "

    That's what I like to hear.
    Exert your influence and connections to keep the bastards honest.
    Santos never answered my questions I emailed to them long ago about Dukas.
    Maybe you can find out something for us share holders.

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    Truth, ask your mate in Santos, they know who has what rigs, PDSA had two, Richter had two, OD&E HAD one, AZZ shipped one in to drill Sues road, since I retired I am sure that more will have come in to Australia.

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    Pilots you own this peanut. It's impressive

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    truth4me, there are rigs around here in OZ capable of doing what STP is wanting to do.

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    Adds04,

    perhaps you are right in saying what you did about STO asking CTP for money to drill. Although I thought that if you are farmin in youn should pay all the costs.

    On the other end of the story none of us know as to why Total walked away from the JV and no one even knows if CTP paid them their share of the drilling costs. From memory it was about $12 million dollars or thereabout. Dyor.!

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    You better get to work now truth 4ume. Pilot has supplied you with all the infos you requested.

    Up to you now mate, and let us know what response you get.

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    The point is that, if Dukas is a dud, that will spell the end of us.

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    Buddy if you need a new drilling rig, ctp might have to stump up some costs. Forces ctp to get off sto back. Sto might have saw no future in the well, the secondary targets might not have had any gas. That's usually a bad sign
    To get so close and pull out. It's odd

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    ###To get so close and pull out. It's odd###

    Not odd at all, have seen it happen many times, the Geo looks at the cuttings coming back in the mud, what he/she sees tells him/her is not going to be a payday, and that's all she wrote.

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    CTP did not pay Total what was owed and Total walked because not good results and CT&P were F’ing up as Operator...

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    Whether Dukas is a dud or not wont matter to the shareholders because the directors of CT&P are going to allow Mac take over our assets for nothing as per terms of recent finance extension. Mac will own it as per liens and calling in debt and shareholders will own effectively zilch....Directors of CT&P organised all this to personally profit by scoring ill gotten monies from Mac by handing over our assets

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    All this ground that john consolidated into ctp, Looks like its all rubbish.

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    It wouldn’t surprise me if John picks up the royalty ground with their blessing once Mac seizes all the production assets...good on him!

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