Adelaide, Oct 24, 2008 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announces that Hunt Rig 2 was released from the Simpson 1 well site at 0800 Northern Territory time on the 22nd October.
While the Mt Kitty and Ooraminna well site locations are relatively safe from potential weather related access problems, the rig is being transported to Kulgera on the Alice Springs-Adelaide highway to allow all weather access to it as a prudent move in consideration of the impending wet season.
Considerable logistics, equipment failings and/or supply problems have resulted in a longer programme to date than originally anticipated.
A decision on the resumption or otherwise of the remainder of the proposed 2008 programme will be made in mid November when the Joint Venture (variously Petroleum Exploration Australia Limited, He Nuclear Limited and Central) will have had an opportunity to review its position.
Discussion has also continued with several potential new entrants into the Joint Venture and some of this discussion has focussed on potential modification to the previously planned 2008 programme and possible extensions thereto in the light of results obtained to date, especially the extent of coal with Coal Bed Methane (CBM) potential which has been indicated by the drilling programme in the Pedirka Basin.
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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