Perth, Aug 26, 2008 AEST (ABN Newswire) - Central Petroleum Limited's (ASX:CTP)(PINK:CPTLF) CBM93001 Coal Bed Methane well is expected to spud on Wednesday 27th August. The well of approximately 1,200m Total Depth (TD) is expected to test a thick sequence of Permian coals updip from the Blamore 1 well recently plugged and abandoned due to engineering problems associated with hole sloughing and then failure of drill stem test tools to function.
CBM93001 is the second well in a planned 7 well programme by Central Petroleum Limited (Central) and its Joint Venture Partners, Petroleum Exploration Australia Limited in 2008 targeting prospective Undiscovered Oil/Gas Initially in Place (UOIIP/UGIIP) at "high" estimate of 260 Mmbbls oil and 4.6 TCFG gas and up to 180 BCFG Helium in conventional reservoirs as well as representing the first phase of exploration for 34-70 TCFG in prospective recoverable Coal Bed Methane resources.
Please refer to earlier announcements for details of the 2008 exploration programme.
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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