Drilling Update - Gaudi-1 Unconventional Gas Exploration Well
Brisbane, Nov 5, 2014 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (CPTLF:OTCMKTS) ("Company" or "Central"), as Operator of the Southern Georgina Joint Venture, advises that Gaudi-1 (see attached map in link below) has completed coring from 2105m through the Lower Arthur Creek Formation (LAC) and Thorntonia Limestone, and reached total depth of 2430m in basement. Gas shows were recorded whilst coring through the LAC.
A total of 66 core segments were placed into sealed canisters for desorption analysis, from which the gas content of the LAC can be determined. A gas peak was recorded near the base LAC, apparently coincident with observed natural fractures.
Forward operations are to conduct a comprehensive wireline logging program, and case and suspend the well ahead of the wet season.
Integration of core and log data will progress understanding of the unconventional potential of the LAC, and facilitate the design of a potential production testing program. Attached is a typical workflow to progress an unconventional play. The South Georgina Joint Venture is currently in the early stages of the "Evaluate" phase.
Central Petroleum Managing Director, Richard Cottee said, "Central is encouraged by the preliminary results of Gaudi-1, where a thicker than anticipated sequence of Lower Arthur Creek formation has been intersected and is desorbing gas."
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-698706.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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