The results of the FEED is timed to coincide with the results of Palm Valley-13 becoming available.
As a result of this decision, the Company is confident that it will be able to have 15-20 TJ/d of Sales Gas available by the time the Northern Gas Pipeline is operational-assumed to be 1 December this year.
"This is an important step forward to achieving Central total Sales Gas production of 54 TJ/d (19.6 PJ p.a.) by 1 December this year up from existing sales of 17 TJ/d, more than tripling this year's production," said Richard Cottee, Managing Director.
About Central Petroleum Limited
Central Petroleum Limited (ASX:CTP) 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.
ContactCentral Petroleum Limited
Martin Debelle at Citadel-MAGNUS
Link: Palm Valley Update