Central Petroleum Limited (ASX:CTP) Announces 65 Million Acres Additional Unconventional Play Exploration Targets
Perth, Dec 1, 2011 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) has pleasure in announcing a new Technical Note from the Company detailing up to 65 million acres (260,000 km2) of unconventional play exploration targets in its acreage. These horizon areas are an incremental addition to those unconventional exploration plays and resources detailed by DSWPET Pty Ltd in the Southern Georgina and Amadeus Basins totalling some 11 million acres.
The additional unconventional play exploration targets described by Ambrose and Heugh in the attached Technical Note 11.12.01 (in the Palaeozoic and Pre-Cambrian throughout the Lander Trough of the Wiso Basin, the Amadeus Basin and Pedirka/Eromanga Basins) are represented by known mature source rocks with elevated TOCs (Total Organic Contents) in a series of superimposed (vertically stacked) horizons which have been drilled, at least in part. Many of these horizons have been logged, sampled and analysed but not specifically for the purposes of unconventional exploration.
Although the commercial exploitation of most unconventional exploration play targets such as those in North America is restricted to a modest percentage (20-40%) of the total play area, the exploration targets described in the accompanying technical note may represent important additional horizons for exploration going forward for the Company.
These results are preliminary and based on sparse drilling and sampling from historical and recent exploration over a 50 year period. Significantly more exploration, sampling and analyses is required before any resource figures may result. The observations in the accompanying Technical Note are subject to review as more data comes to hand.
For the complete announcement including figures and maps, please view:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-569758.pdf
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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