Palm Valley Gas Field - PV13 Spuds
Brisbane, Aug 21, 2018 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) ("Company" or "Central"), as Operator and 100% owner of Palm Valley Gas Field, announces that the Palm Valley 13 ("PV13") well spudded today at 4pm AEST.
Ensign Australia Pty Ltd is drilling the well using its Ensign 932 Drilling Rig.
The well aims to access the known gas in the Pacoota P1 sandstone, by intersecting the P1 target at a high angle to increase the chances of connecting to naturally occurring fractures.
The PV13 program anticipates a 46 day drilling timeline to reach a total depth of 3,476 metres MD (measure depth) with a vertical depth of 2,102 metres TVD (true vertical depth) and a near horizontal (84.9 Degrees) reservoir section of up to 1,040 metres MD.
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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