Central Petroleum Limited Stock Market Press Releases and Company Profile
Market Update
Market Update

Brisbane, Sep 9, 2014 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) (googlechartCPTLF:OTCMKTS) reports that Santos as operator of the Southern Amadeus Joint Venture advises that wireline logging in the Mt Kitty EP 125 exploration well has been successfully completed.

Sidewall cores confirmed that the Heavitree Quartzite is absent in the well and that the previously reported gas flows were from granitic basement. Raw formation image logs indicate that basement is extensively fractured. This is typical of many structures in the Amadeus Basin, and generally enhances productivity.

The well is currently being plugged and suspended. Full evaluation of well results and integration with seismic may result in a decision to drill an oriented sidetrack in future, aiming to maximize intersection with observed fracturing.

Central Petroleum Managing Director, Richard Cottee said, "Central is pleased this drilling operation has now been successfully concluded with positive indications of hydrocarbons and helium gas in this large and underexplored area. The results of Mt Kitty 1 has encouraged Santos to proceed with Stage 2 of a farmin to Central' s Southern Amadeus Basin exploration permits , which will see at least 200 km of a total 1,300 km seismic acquired in EP 125."

Southern Georgina Joint Venture

The rig move to Gaudi 1 location is nearing completion with spud expected within a week.

Dingo Development Project

Construction of the pipeline commenced this week.

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.

abnnewswire.com 


Contact

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969



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