Central Petroleum Limited Stock Market Press Releases and Company Profile
Palm Valley Gas Field - PV13 Spuds
Palm Valley Gas Field - PV13 Spuds

Brisbane, Aug 21, 2018 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) ("Company" or "Central"), as Operator and 100% owner of Palm Valley Gas Field, announces that the Palm Valley 13 ("PV13") well spudded today at 4pm AEST.

Ensign Australia Pty Ltd is drilling the well using its Ensign 932 Drilling Rig.

The well aims to access the known gas in the Pacoota P1 sandstone, by intersecting the P1 target at a high angle to increase the chances of connecting to naturally occurring fractures.

The PV13 program anticipates a 46 day drilling timeline to reach a total depth of 3,476 metres MD (measure depth) with a vertical depth of 2,102 metres TVD (true vertical depth) and a near horizontal (84.9 Degrees) reservoir section of up to 1,040 metres MD.


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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