Central Petroleum Limited (
Drilling of the 12 1/4" hole commenced on 10 May 2022 following on from the testing of surface equipment and the blow out preventor (BOP). After a planned and successful Formation Integrity Test (FIT), drilling continued in the 12 1/4" section to the current depth of 1,687m MD.
In the past week 584m of drilling has occurred in-line with expectations. It is anticipated that the 12 1/4" section total depth (planned at ~ 2,005m) will be reached on 18 May 2022.
The PV12 well has two alternate objectives, consisting of a deeper gas exploration target or a shallower gas appraisal lateral that could become a production well. The primary exploration target is the Arumbera Sandstone at an anticipated depth of 3,560m.
The PV12 well is the first of a 2-well drilling program that also includes the Dingo-5 exploration / production well. Both wells are being drilled under joint ventures between Central (50% interest), New Zealand Oil & Gas Limited (
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.
Contact
Investor and Media Inquiries:Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969
Related Companies
Related Industry Topics: