Mereenie Production Wells Tied-In and Rig Released
Brisbane, Sep 27, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (C9J:FRA) (CNPTF:OTCMKTS) advises that drilling and completion of the new production wells, WM27 & WM28, is complete and Easternwell Rig 27 was released on 23rd September 2021.
Both wells have been tied-in and WM28 is now online and producing from both the Pacoota-1 and Pacoota-3 formations. WM27 was completed successfully as a single zone Pacoota-1 producer and is expected to come online shortly.
At this stage the Mereenie Recompletions and Development Programme is anticipated to add around 10 TJ/d of wellhead capacity (gross JV). The market for gas remains strong, and Central expects to market the gas into spot and term markets over the coming months.
Given the encouraging flows from the Upper Stairway formation in WM28, Central has commenced conceptual planning for further appraisal of this resource, subject to JV approval.
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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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