Preliminary Gas Composition Results for Mt Kitty
Brisbane, May 8, 2014 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (CPTLY:OTCMKTS) At a technical meeting held on May 6th, Santos Limited (STO), Operator of Amadeus Basin petroleum exploration licence EP 125, advised Central Petroleum Limited (CTP) of the preliminary results of compositional analyses undertaken on three gas samples collected from four flow tests conducted in the Mt Kitty 1 exploration well. However, results were found to be so disparate that they may not be representative of actual gas compositions in the reservoir.
Based on canister pressures, the sample collected in Flow Test 2 at a depth of 2156m is considered to be the most reliable. It recorded the following results, but contamination of even this sample with some extraneous nitrogen cannot be discounted.
----------------------------------Mt Kitty Flow Test 2 at 2156m----------------------------------61% nitrogen13% methane4% ethane11% hydrogen9% helium----------------------------------
Central CEO Richard Cottee said the results were positive but needed to be treated with caution.
"The presence of methane and higher hydrocarbons confirms the presence of a working petroleum system in the permit, and the presence of high value Helium is very encouraging. However, given the limitations inherent in the sampling technique employed, the commercial significance of the Mt Kitty 1 gas discovery is unable to be judged based on results recorded to date."
Santos has advised that it is sufficiently encouraged by results obtained to date to return to the Mt Kitty 1 well to complete logging and sampling operations curtailed by the rig incident previously announced. As operator, it is endeavoring to bring an alternate rig to site to complete operations, but results are unlikely to be known until the end of June.
Santos has recommended to the joint venture that exploration of the permit at large should be progressed with the acquisition of further 2D seismic, contingent upon Santos committing to entering phase 2 of the farm-in agreement.
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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