Central Petroleum Limited (ASX:CTP) Operations Update
Perth, Mar 27, 2012 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) advises that the Kintore bypass road, to be used in connection with transport supporting the Extended Production Test ("EPT") is nearing completion, and planning for the commencement for the EPT itself, including storage tank lease is well advanced.
Furthermore, the 3D and 2D seismic programs over the Surprise field in EP 115 and the 2D seismic over the Pellinor Reef play in EP 97 are at final design stage. It is aimed to acquire the 3D seismic over Surprise before the commencement of the EPT so as to avoid seismic interference.
Central has also recently implemented a new initiative to expedite and promote our farmin opportunities so as to spread risk and reduce expenditure, with encouraging results to date.
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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