Central Petroleum Limited (ASX:CTP) ("Company" or "Central") as Operator and 100% owner of Palm Valley Gas Field, announces that the Palm Valley 13 well ("PV13") has reached 1,845 metres Measured Depth (MD), and a 7" liner has been run and cemented in place with full cement returns.

The tie back liner and downhole deployment valve (DDV) with control lines were then successfully installed. Current operations are to drill out the shoe track and drill 3m of new hole for formation integrity testing. The directional tools for the 6 1/4" hole will then be run in the well and drilling will continue with air mist.

It is expected that the targeted Pacoota Sandstone will be intercepted next. PV13 is targeting a total depth of 3,471 metres MD with a true vertical depth (TVD) of 2,100 metres and a near horizontal (84.9 degrees) reservoir section of up to 1,570 metres MD.


About Central Petroleum Limited

Central Petroleum Limited (Central) is a well-established, and emerging ASX-listed Australian oil and gas producer (ASX:CTP). 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.

 

Contact

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969



Link: Palm Valley PV13 Drilling Update


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