Mereenie Development Well WM27 Commences
Brisbane, June 4, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (C9J.F) (CNPTF:OTCMKTS) advises that WM27, the first Development well in the Mereenie Development Programme, was spudded on 3rd June 2021 at 2145 hrs.
The rig has moved off the recompletions of the four existing wells (WM14, WM15, WM19 and WM20), and these wells are scheduled to be progressively brought back on-line over the coming days.
WM27 is being drilled at a crestal location targeting increased gas production. This well, along with another development well (WM28) and the four recompletions, is intended to return field production capacity back towards 45 TJ/d (100% JV) and produce at least an additional 40 PJ of gas over the lifetime of the field (10 PJ net to Central). This will enable the Mereenie JV to commit to new gas sales into what is anticipated to be an increasingly tight east coast gas market.
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About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is an established ASX-listed Australian oil and gas producer (ASX:CTP) with exploration and appraisal permits in the Northern Territory (NT). Central has grown to become the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and wider Australian east coast market.
Central is seeking to become a major domestic energy supplier, in addition to helium and naturally occurring hydrogen, with exploration, appraisal and development plans across 169,112 km2 of tenements the NT, including some of Australia's largest known onshore conventional gas prospects in the Amadeus Basin.
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