Drilling Update - Gaudi-1 Unconventional Well
Brisbane, Oct 20, 2014 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (CPTLF:OTCMKTS) ("Company" or "Central"), as Operator of the Southern Georgina Joint Venture, advises that coring at Gaudi-1 (see map in link below) continues having reached a depth of 2,157 metres in the Lower Arthur Creek Formation. There have been 8 cores taken to date representing over 10 percent of the total expected to be taken for Gaudi-1.
With the Southern Georgina Joint Venture evaluating the unconventional shale gas potential of the Arthur Creek formation, coring is a precursor to the design of production wells.
The objective of the Gaudi-1 well is to place into sealed canisters cores of the shale or siltstone with the gas still embedded for desorption analysis (ie the rate at which gas will be released from the host rock) giving the gas content. The fact that the cores are desorbing (releasing) gas is a positive early sign. Results of the desorption analysis will be released as soon as they are known.
To view the location map, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-695511.pdf
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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