Palm Valley 13 Well Update
Brisbane, May 31, 2019 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP)(CPTLF:OTCMKTS) ("Company" or "Central") advises that the Palm Valley 13 well ("PV13") has been ramped up to 6.3 TJ/d, and the Palm Valley field is now delivering 12.4 TJ/d of sales gas.
The well is currently limited at this rate by the nameplate capacity of the wellhead skid which was redeployed from the PV1 well after it failed to restart. Reusing the PV1 skid enabled an accelerated online date whilst matching expected flowrates and minimising capital costs. This has contributed to the tie-in project being delivered significantly under budget. Engineering investigations are now underway to determine the upper capacity limit of the skid, which may allow incremental increases to the well flow rate over the coming weeks.
Production from PV13 has approximately doubled field deliverability and is anticipated to make a significant contribution to Central's gas sales going forward. Early production data from PV13 is being incorporated into 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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