Perth, Aug 14, 2008 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) Announce Blamore 1 is the first well in a planned 7 well programme in 2008 targeting prospective Undiscovered Oil/Gas Initially in Place (UOIIP/UGIIP) at "high" estimate of 260 Mmbbls oil and 4.6 TCFG gas and up to 180 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.
Glossaries of oilfield terms are available at the following websites :
http://www.mms.gov/glossary/
http://mjollnir.uib.no/filer/Glossary%20of%20Oilfield%20Terms.pdf
http://www.pennacogas.com/glossary.html
http://www.oglinks.com/glossary.htm
Blamore 1 Report from 0600 hrs 11th August to 0600 hrs 14th August 2008
Preliminary Results : Preliminary interpretation of electric logs at Blamore 1 have indicated a net Permian coal sequence of slightly over 160m, approximately 4 times the net thickness expected. The coal sequences, while being drilled, exhibited a range of high gas readings including peaks up to 233 units (1 unit equals 100 parts per million - ppm) and a range of gases from C1 (methane) to C5 (pentane) suggesting a higher calorific value than typical Coal Bed Methane gases.
This Permian sequence of coals will be further tested in Coal Bed Methane well CBM 93001, the next well to be drilled.
Further results of Blamore 1 will be released when results are available and have been analysed.
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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