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

Brisbane, Oct 20, 2014 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) (googlechartCPTLF:OTCMKTS) ("Company" or "Central"), as Operator of the Southern Georgina Joint Venture, advises that coring at Gaudi-1 (see map in link below) continues having reached a depth of 2,157 metres in the Lower Arthur Creek Formation. There have been 8 cores taken to date representing over 10 percent of the total expected to be taken for Gaudi-1.

With the Southern Georgina Joint Venture evaluating the unconventional shale gas potential of the Arthur Creek formation, coring is a precursor to the design of production wells.

The objective of the Gaudi-1 well is to place into sealed canisters cores of the shale or siltstone with the gas still embedded for desorption analysis (ie the rate at which gas will be released from the host rock) giving the gas content. The fact that the cores are desorbing (releasing) gas is a positive early sign. Results of the desorption analysis will be released as soon as they are known.

To view the location map, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-695511.pdf


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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