Drilling Update - Gaudi-1 Unconventional Gas Exploration Well
Brisbane, Nov 5, 2014 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (CPTLF:OTCMKTS) ("Company" or "Central"), as Operator of the Southern Georgina Joint Venture, advises that Gaudi-1 (see attached map in link below) has completed coring from 2105m through the Lower Arthur Creek Formation (LAC) and Thorntonia Limestone, and reached total depth of 2430m in basement. Gas shows were recorded whilst coring through the LAC.
A total of 66 core segments were placed into sealed canisters for desorption analysis, from which the gas content of the LAC can be determined. A gas peak was recorded near the base LAC, apparently coincident with observed natural fractures.
Forward operations are to conduct a comprehensive wireline logging program, and case and suspend the well ahead of the wet season.
Integration of core and log data will progress understanding of the unconventional potential of the LAC, and facilitate the design of a potential production testing program. Attached is a typical workflow to progress an unconventional play. The South Georgina Joint Venture is currently in the early stages of the "Evaluate" phase.
Central Petroleum Managing Director, Richard Cottee said, "Central is encouraged by the preliminary results of Gaudi-1, where a thicker than anticipated sequence of Lower Arthur Creek formation has been intersected and is desorbing gas."
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-698706.pdf
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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