Central Petroleum Limited (ASX:CTP) Range Pilot Update - Range Pilot Online

Central Petroleum Limited (ASX:CTP) (C9J.F) (OTCMKTS:CNPTF) advises that the Range pilot has commenced production. The three wells (Range-6, 7 and 8) have been successfully drilled and completed, and surface facilities have been installed and commissioned.

The pumps have been started at low speeds and the wells are presently producing water to the storage tank. The pumps will be ramped up over the next two weeks to gradually increase water rates and control well drawdown. After this, the pilot will be operated for around three months or longer subject to storage tank capacity.

Further updates will be provided as the programme progresses.

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.


About Central Petroleum Limited

Central Petroleum Limited (Central) 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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