Coretrack (CKK)

Shares / Stock Code

CKK

Stock Exchange / Sharemarket

Australian Securities Exchange

Coretrack (CKK) is focused on the research, development and commercialisation of the company's proprietary technology, known as the Core Barrel Capacity Gauge. This technology is targeted at the coring services sector of both the onshore and offshore oil and gas industry. As of June 30, 2009, the Company’s primary focus is on the introduction of its technology, the Core Level Recorder System (CLRS), into the coring and exploration sector. In February 2010, the Company completed the acquisition of Globe Drill Pty Ltd. Pursuant to the transaction Coretrack holds 100% in Globe Drill Pty Ltd.

Since the company’s conception, Coretrack has focused primarily on building and introducing its highly anticipated integrated core tracking tool, the Core Level Recorder System (CLRS) into the commercial market. The company has accelerated its operations and growth plan by acquiring one of Australia’s leading drill rig manufacturing/drilling services companies, Globe Drill Pty Ltd. The Globe Drill acquisition has brought together two world class companies, both at the forefront of producing superior products and services for the global energy sector.

Coretrack History

Coretrack was incorporated on 5 January 2005. The company was converted to a public company limited by shares in October 2005, and listed on the ASX on 31 August 2006 (ASX Code: CKK).

The initial focus of the Company was the research, development and testing of the Core Level Recorder System (CLRS). In October 2009, after 3 years of meticulous research and development, the technology development for the CLRS was completed. The tool is about to be marketed commercially.

In February 2010 Coretrack successfully acquired Globe Drill Pty Ltd. Globe Drill was established in 2005 and since 2008 has had the focus and direction to develop cutting edge drilling equipment for wells drilled to depths of circa 3,000m. Specifically Globe Drill has designed and is on track to complete its own GT3000, a drill rig with vastly improved efficiency and speed. The GT3000 rig is designed for drilling to depths of 1,000m to 3,000m at double the speed and with a third of the auxiliary equipment compared to conventional rigs, saving substantial amounts of time and money.

Coretrack (CKK) Products and Services

  • Development and marketing of the Company's Core Level Recorder System

Coretrack (CKK) Locations and Subsidiaries

Coretrack Head Office
LEVEL 3, 182 ST GEORGE'S TERRACE,
PERTH, WA 6000
Phone: (08) 9265 0000
Fax: 08 9265 0001

Coretrack (CKK) Share Price

Submitted by ASX Listed Company on 14 March, 2010 - 00:51

Download our FREE App


Signup for Free
Don't miss out on your free share trading articles.


Free Risk Money Management Calculator for those who sign up!