Palm Valley 13 Well Commenced Flowing Sales Gas
Brisbane, May 17, 2019 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) ("Company" or "Central") advises that the Palm Valley 13 well ("PV13") has been tied-in and commenced flowing to sales on 17th May 2019. The successful delivery of the tie-in project is forecast to provide a significant increase in production from the Palm Valley field. Having the well online is the culmination of the Palm Valley portion of the broader Gas Acceleration Plan to deliver increased gas sales into the robust east coast gas market via the Northern Gas Pipeline.
The well will be ramped up in a controlled manner over the next few weeks to provide test data to satisfy regulatory obligations as well as providing further insights into reservoir behaviour. As a result, the well is currently heavily choked and flowing at approximately 0.5 TJ/d. As the well is ramped up, it is expected to bring total field production significantly closer to the plant capacity of 15 TJ/d.
Early production data from PV13, along with data from the underperforming existing wells, will help inform an updated forecast of field production potential.
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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