Central Petroleum Limited

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 2,077m ?Crown Point Formation sandstones with background gas of c.1 unit. Background gas of c1-2 units has been recorded since drilling out the casing shoe. Wellsite interpreted top ot the Tirrawarra Sandstone was 1,990m and the Crown Point Formation 2,000m.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 1,989m in sandstones with minor siltstones, claystones and coals in the Purni Formation.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the drilling had been delayed by blocked jets in the bit, after the well had reached a current depth of 1,899m in the ?top Purni Formation.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 1,899m in the Purni Formation after having intersected 7m of coal from 1,868-1,875m with peak gas increasing to 8 units over this interval over a background of 1-2 units. (100 ppm = 1 unit) C1 of c.80% and C2,C3,C4 and C5 (heavier fractions) of up to c.20% cumulative were recorded over the coal interval.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 1,370m in the ?Algebuckina Sandstone with very minor claystone and siltstone. The wellsite interpreted top of the Algebuckina Sandstone was at 1,189m, ie 46m high to prognosis. Background gas of c.2 units has been recorded since drilling out the casing shoe.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 1072m in the Bulldog Shale, predominantly claystone. The operation was delayed approximately 7 hours overnight due to drilling pipe washouts (leakages) developing requiring the drilling pipe to be pulled from the hole and defective pipe being replace.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that as at 0600 today, the well had reached a current depth of 861m in the Bulldog Shale, predominantly claystone.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that the well is targeting Undiscovered Oil Initially In Place of up to 190 MMbbls ("high" estimate UOIIP) in the Jurassic Algebuckina and Poolowanna Formations and the Permian Tirrawarra Formation.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report that the well is targeting Undiscovered Oil Initially In Place of up to 190 MMbbls ("high" estimate UOIIP) in the Jurassic Algebuckina and Poolowanna Formations and the Permian Tirrawarra Formation. Depending on depths encountered, it is possible the total depth of the well may test the top of the transgressive sand and shale C horizon of the Devonian carbonate platform play.

Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) report the well is targeting Undiscovered Oil Initially In Place of up to 190 MMbbls ("high" estimate UOIIP) in the Jurassic Algebuckina and Poolowanna Formations and the Permian Tirrawarra Formation. Depending on depths encountered, it is possible the total depth of the well may test the top of the transgressive sand and shale C horizon of the Devonian carbonate platform play.