First Oil to Market and 3-D Seismic Survey Status
Perth, July 4, 2012 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) advises that the first load of oil from the Surprise 1 REH ST1 well has left location en-route to market. A Crude Oil Sales Purchase Agreement has been signed under which the crude will be sold. The well is performing as expected under the EPT program protocols. The term of the initial agreement was determined by the length of the EPT, which is 3 months. A further agreement is planned should a Production Licence for the Surprise discovery area be granted.
The Company's acquisition of 3D seismic data over the Surprise structure in EP-115 is approximately 30% complete with line clearing having commenced at the northern part of the Pedirka Basin across the EP -97 Pellinor Block.
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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