Palm Valley 13 Encounters Strong Gas Flows
Brisbane, Oct 5, 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"), as of this morning, is drilling ahead in the targeted Pacoota Sandstone at 2,020 metres measured depth ("MD") and the well has encountered strong gas flows.
Gas flows were first encountered at 1,888 metres MD and have increased steadily to the current depth. The well tested at 13.6 million standard cubic feet per day ("mmscfd") through a 3.5 inch orifice plate this morning.
PV13 is located inside Operating Licence 3 and is an infield appraisal well for the Palm Valley Gas Field located in the Amadeus Basin. The Pacoota Sandstone is the productive interval, with gross and net pay intervals of 175 metres and 45 metres respectively. The depth of the test interval is 1,845 metres to 2,020 metres MD and 1,782 metres to 1,913 metres true vertical depth ("TVD"). The well was tested through a 3.5 inch orifice and stabilised after one minute and was tested for 8 minutes and flowed at 13.6 mmscfd. Only gas was recovered during the test, no water or oil was recovered. Palm Valley Gas Field is an existing gas field which produces from natural fractures. No hydraulic stimulation (fracking) is required in the well. This flow rate is very encouraging and there remains about 1,400m of horizontal hole to drill until total depth is reached. Testing operations have now ceased and the well is drilling ahead.
PV13 is targeting a total depth of 3,471 metres MD with a TVD of 2,100 metres and a near horizontal (84.9 degrees) reservoir section of up to 1,570 metres MD.
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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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