Range Pilot Update - Range-6 Spuds
Brisbane, April 12, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (C9J:FRA) (CNPTF:OTCMKTS) advises that Range-6, the first well in the three well Range Pilot Programme, spudded on 11th April 2021 at 9:30pm.
The Range-6 well has a target depth of 704m below rotary table and will be completed across the three seams of the Walloon Coal Measures and tested over several months to confirm water and gas flow rates.
The Range pilot consists of three wells closely spaced at 200m apart to accelerate the dewatering process, a production water tank, flare and associated pipework. Testing of the pilot is expected to commence in June and provide production data for approximately three months to support a Final Investment Decision in 2022. The pilot will provide key information regarding reservoir productivity (initially via water rates), gas desorption (when gas is first produced), zonal contribution (how much each coal seam is contributing) and the initial production profiles of gas and water ramp up.
About the Range Gas Project
The Range Gas Project is a 50:50 Joint Venture between Central and a wholly owned subsidiary of Incitec Pivot Limited (ASX:IPL) in ATP 2031, a 77 km2 permit located in the Surat Basin, Queensland. The Range Gas Project contains an estimated 270 PJ* of 2C Contingent Gas Resource (Central share: 135 PJ*) and is positioned for development to take advantage of an expected shortfall of gas supply in eastern Australia by 2024.
* Central's 50% net interest is 135 PJ. Resources are as at 15 August 2019 and were independently certified by Netherland, Sewell & Associates. These resources were first reported to the market on 20 August 2019. PJs rounded to nearest full PJ. Central Petroleum Limited is not aware of any new information or data that materially affects the information included in this announcement and all the material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
To view tables and figures, please visit:
https://abnnewswire.net/lnk/16H7W06W
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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