Central Petroleum Limited (ASX:CTP) 11.12.22 Surprise-1 Re-entry H Drilling Update
Perth, Dec 22, 2011 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) advises shareholders that a window has been successfully milled in the 7" casing and the angle building section of the well is proceeding. It is anticipated that the horizontal section will commence by Friday 23 December 2011 and be completed as a barefoot horizontal completion (uncased horizontal section) ready for evaluation by the end of the first week in January 2012.
Analysis by independent consultants of oil samples recovered from gas cut drilling mud over the shale shakers during circulation between logging operations has concluded that the oil is consistent with a marine source, possibly a Horn Valley Siltstone Source and is unlikely to be distillate product contamination (i.e. a refined oil product added to the drilling mud).
The Northern Territory Department of Resources has renamed the Surprise-1 well as "Surprise-1 Re-entry H".
Further updates will be provided when any significant information becomes available.
Any results or conclusions reported are based on preliminary analysis and data and may be subject to change as more data becomes available.
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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