Mt Kitty Exploration Well Re-entry Commences
Brisbane, Aug 27, 2014 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (CPTLF:OTCMKTS) (Central) has been advised by Santos (ASX:STO), the Operator of Amadeus Basin permit EP 125, that it plans to commence re-entry works to complete the evaluation (including logging) of the Mt Kitty 1 exploration well and plug and suspend the well to enable future use of the wellbore.
Following completion of these re-entry operations, the forward plan of the Joint Venture is to undertake a resource estimation and economics study and plan any future work program for the permit.
Santos has indicated, at a minimum, approximately 200km of the 1,300km Stage 2 2D seismic for the Southern Amadeus farmin (see ASX Announcement dated 31 July 2014) will be acquired in EP125 in which Mt Kitty is situated.
About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
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