Central Petroleum Limited Stock Market Press Releases and Company Profile

Adelaide, Oct 20, 2008 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 2,165m in ?Warburton Basin sediments with background gas of c.1 unit.

Background gas of c.1-2 units has been recorded since drilling out the casing shoe. Wellsite interpreted top of the Warburton Basin sediments was 2,073m.

Electric logging tools are now being run at the wellsite.

Discussion continues with several potential joint venture partners concerning farmin and placement options.

Glossaries of oilfield terms:
http://www.oglinks.com/glossary.htm


About Central Petroleum Limited

Central Petroleum LimitedCentral 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.

abnnewswire.com 


Contact

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969


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