While the Company would prefer to commence its programme at Mereenie, if there is a further delay in the ACCC deliberation then the first well to be spudded will be at Palm Valley. Under the timetable the first well should be spudded in 6-8 weeks' time with each well taking slightly more than 30 days. The wells at Mereenie will have a deviated lateral of over one kilometre designed to intersect the natural fractures in the sandstone. None of the wells in the drilling campaign are intended to be fracture stimulated.
About Central Petroleum Limited
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) is an oil and gas explorer and producer listed on the Australian Securities Exchange focused on supplying the domestic gas market. Central is advancing several separate projects across what is regarded as the biggest package of proven and prospective oil and gas acreage across central Australia. This spread of assets gives Central multiple options for growth and development. 88% of this land being gas prone has led to the Company's focus on becoming a major domestic gas producer.
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Central Petroleum Limited (ASX:CTP) 2017 AGM - Chairman's Address and Managing Director's Presentation