Perth, July 11, 2008 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) Announce that Blamore 1 is the first well in a planned 7 well programme in 2008 targeting prospective recoverable resources at "high" estimate of 260 Mmbbls oil and 2.4 TCFG gas and up to 105 BCFG Helium in conventional reservoirs as well as representing the first phase of exploration for 34-70 TCFG in prospective recoverable Coal Bed Methane resources.
Please refer to earlier announcements for details of the 2008 exploration programme
Blamore 1 Report from 0600 hrs 8 July to 0600 hrs 11 July 2008
Drilling : Pressure testing BOPs and installing Bradenhead, anticipate returning to drilling tonight.
Geology : Encountered interpreted top of Cadnaowie Formation at c.951m RKB.
Total Depth : Planned total depth is 2,500m.
Targets : Prognosed primary reservoir targets are the top Algebuckina Sandstone, Poolowanna Formation and the Tirrawarra Sandstone. Other horizons may have potential. Blamore is a wildcat well based on seismic interpretation. Prognosed formation top depths are being revised using new seismic parameters based on preliminary field wellsite interpretation and subject to ongoing revision as more data becomes available, particularly final electric logging. It is encouraging that field picks for formation tops are coming in higher than the preliminary prognosis.
About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
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