Palm Valley PV13 Drilling Update
Brisbane, Oct 2, 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 well ("PV13") has reached 1,845 metres Measured Depth (MD), and a 7" liner has been run and cemented in place with full cement returns.
The tie back liner and downhole deployment valve (DDV) with control lines were then successfully installed. Current operations are to drill out the shoe track and drill 3m of new hole for formation integrity testing. The directional tools for the 6 1/4" hole will then be run in the well and drilling will continue with air mist.
It is expected that the targeted Pacoota Sandstone will be intercepted next. PV13 is targeting a total depth of 3,471 metres MD with a true vertical depth (TVD) of 2,100 metres and a near horizontal (84.9 degrees) reservoir section of up to 1,570 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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