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Perth, July 4, 2012 (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) advises that the first load of oil from the Surprise 1 REH ST1 well has left location en-route to market. A Crude Oil Sales Purchase Agreement has been signed under which the crude will be sold. The well is performing as expected under the EPT program protocols. The term of the initial agreement was determined by the length of the EPT, which is 3 months. A further agreement is planned should a Production Licence for the Surprise discovery area be granted.
The Company's acquisition of 3D seismic data over the Surprise structure in EP-115 is approximately 30% complete with line clearing having commenced at the northern part of the Pedirka Basin across the EP -97 Pellinor Block.
ASX:CTP) advises that the first load of oil from the Surprise 1 REH ST1 well has left location en-route to market. A Crude Oil Sales Purchase Agreement has been signed under which the crude will be sold. The well is performing as expected under the EPT program protocols. The term of the initial agreement was determined by the length of the EPT, which is 3 months. A further agreement is planned should a Production Licence for the Surprise discovery area be granted.The Company's acquisition of 3D seismic data over the Surprise structure in EP-115 is approximately 30% complete with line clearing having commenced at the northern part of the Pedirka Basin across the EP -97 Pellinor Block.
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About Central Petroleum Limited
Central Petroleum (ASX:CTP) is an ASX listed junior exploration and production company operating what is regarded as the biggest package of prospective acreage in Australia.
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