Perth, Sept 2, 2008 (ABN Newswire) - Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announce that at 0600 this morning the well had been drilled to 705m with preliminary wellsite interpretation putting the top of the Permian Purni target formation for Coal Bed Methane (CBM) evaluation at 696m.Preparations were being made to drill set an intermediate string of 7" casing at 705m.

The well of approximately 1,200m Total Depth (TD) is expected to test a thick sequence of Permian coals updip from the Blamore 1 well recently plugged and abandoned due to engineering problems associated with hole sloughing about the Triassic Walkandi Formation and then failure of drill stem test tools to function. It is planned to conduct Drill Stem Tests for permeability measurements over any promising coal beds as well as to core the coals with a wireline retrievable coring system for CBM production analysis. Contingent plans have been made to complete the well as a potential producer.

CBM93001 is the second well in a planned 2008 seven well programme by Central Petroleum Limited (Central) and its Joint Venture Partners, Petroleum Exploration Australia Limited and He Nuclear Limited in 2008 targeting prospective Undiscovered Oil/Gas Initially in Place (UOIIP/UGIIP) at "high" estimate of 260 Mmbbls oil and 4.6 TCFG gas and up to 180 BCFG Helium in conventional reservoirs as well as representing the first phase of exploration for 34-70 TCFG in prospective recoverable Coal Bed Methane resources. Please refer to earlier announcements for details of the 2008 exploration programme.