Central Petroleum Limited Stock Market Press Releases and Company Profile
Drilling Update - Whiteley-1 Unconventional Well
Drilling Update - Whiteley-1 Unconventional Well

Brisbane, Aug 1, 2014 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) (googlechartCPTLY:OTCMKTS) ("Company" or "Central"), advises that drilling of Whiteley-1 is proceeding to prognosis.

As at 1500hrs today the measured depth is 991m. Intermediate 8 1/2" Hole section has been TD'd and the rig is preparing to electronically log the intermediate hole section prior to running the 7" Intermediate casing.

Whiteley-1 is the first of a program of unconventional gas exploration wells operated by Central (via subsidiary Merlin Energy Pty Ltd in partnership with international energy company Total) and is to be drilled using Enerdrill Rig 2.

The primary objective is the Lower Arthur Creek Formation, which will be fully cored and sampled for gas desorption and reservoir properties, in addition to an extensive logging program to evaluate the hydrocarbon resource potential.

The second well in the program, Gaudi-1, is scheduled to spud in mid-September 2014 in ATP909.

Each well is expected to be drilled to a total depth of approximately 1900 to 2,900 metres respectively, will be extensively cored, and are estimated to be drilled and cased in approximately 60 days.

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.

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