Adelaide, Oct 24, 2008 (ABN Newswire) - Central Petroleum Limited (ASX:CTP)(PINK:CPTLF) announces that Hunt Rig 2 was released from the Simpson 1 well site at 0800 Northern Territory time on the 22nd October.
While the Mt Kitty and Ooraminna well site locations are relatively safe from potential weather related access problems, the rig is being transported to Kulgera on the Alice Springs-Adelaide highway to allow all weather access to it as a prudent move in consideration of the impending wet season.
Considerable logistics, equipment failings and/or supply problems have resulted in a longer programme to date than originally anticipated.
A decision on the resumption or otherwise of the remainder of the proposed 2008 programme will be made in mid November when the Joint Venture (variously Petroleum Exploration Australia Limited, He Nuclear Limited and Central) will have had an opportunity to review its position.
Discussion has also continued with several potential new entrants into the Joint Venture and some of this discussion has focussed on potential modification to the previously planned 2008 programme and possible extensions thereto in the light of results obtained to date, especially the extent of coal with Coal Bed Methane (CBM) potential which has been indicated by the drilling programme in the Pedirka Basin.
About Central Petroleum Limited
Central Petroleum is a ASX listed junior exploration and production company operating what is regarded as the biggest package of prospective acreage in Australia. The Company gained admission to the Official List of the ASX on March 3rd 2006 with shares and options commencing to trade on Tuesday the 7th March.The acreage has been assembled since 1998 when the Company was first formed as Merlin Synergy NL.
Central Petroleum Limited
