Perth, Sep 18, 2008 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) Various gas peaks associated with Purni Formation Coals continued. After intersecting possible Tirrawarra Formation at 1209m, and then reaching kelly down of 1218.3m, after making connection and drilling ahead, high connection gas of c.172 units including C1to C5 was recorded.
A flow of fluid was observed from well bore, aquifer flow indicated, Mud weight was increased to 9.3 lb/gal to control water flow, connection gas declined, mud loss of 12 bbl per hour was noted while drilling. Shortly after 0600 this morning a Total Depth of c.1,265m was reached and preparations were being made to run electric logs prior to completing the well as a potential CBM gas producer.
Relative proportions of vitrinite and liptinite in coals had increased with depth and inertinite had decreased. This indicated an increasing "richness" of coal and an inherent ability to produce gas.
Although these results are preliminary until the well is logged and tested, the implications are quite positive for Central's CBM programme going forward.
CBM 93-01 Significant Coals Intersected in the Purni Formation Date: 16 Sept 2008, Current TD 1008m
---------------------------------------------------------Depth Interval Seam Maximum Chromato- Background Purni Coal Seams Thickness Units graphic Gas(metres) (metres) (x100ppm) Breakdown (ppm) ---------------------------------------------------------721m - 723m 2 1 C1: 210, C2+ traces 1758m - 759m 1 2 C1: 310, C2+ traces 1761m - 762.5m 1.5 2 C1: 304, C2+ traces 1779.4m - 780.8m 1 2 C1: 372, C2+ traces 1798.7m - 810.8m 12.1 2 C1: 457, C2+ traces 1836m - 853.4m 17.4 2 C1: 503, C2+ traces 1873m - 885m 12 3 C1: 591, C2+ traces 1.5913m - 917m 4 5 C1: 957, C2: 52, C3: 7 2.5939.5m - 940.5m 1 8 C1: 1,125, C2: 203, C3 :19, C4+ traces 1.5945.2m - 945.7m 0.5 16 C1: 2,141, C2: 500, C3: 26, C4+ traces 4977m - 981.5m+ In coal base Core#24 4.5+ 81 C1: 10,791, C2: 2,356, C3: 219, iC4: 20, nC4: 16 6Same Coal 990+ 18m 132 TOTAL 75.0m++-----------------------------------------------------------
The well of approximately 1,200m Total Depth (TD) tested a thick sequence of Permian coals updip from the Blamore 1 well recently plugged and abandoned due to engineering problems associated with hole sloughing about the Triassic Walkandi Formation and then failure of drill stem test tools to function. Two Drill Stem Tests for permeability measurements have been conducted and both reported strong blows on opening for flow.
CBM93001 is the second well in a planned 2008 seven well programme by Central Petroleum Limited (Central) and its Joint Venture Partners, Petroleum Exploration Australia Limited and He Nuclear Limited 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.
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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