Proactiveinvestors Australia

Central Petroleum www.centralpetroleum.com.au/

Central Petroleum (ASX: CTP) holds an extensive package of prospective acreage of over 270,000 km2 in central Australia, which is predominately in the Pedirka Basin, along with 25,000 km2 in the Southern Georgina Basin.

 

Apart from conventional gas potential, the company has had independent estimates of over 10,000 trillion cubic feet in UCG "syngas" prospective recoverable resources.

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Central Petroleum making progress towards Surprise-1 oil testing in the Amadeus Badin

Central Petroleum (ASX: CTP) is close to completing the Kintore bypass road required to support the planning Surprise-1 extended production test in the Amadeus Basin, Northern Territory.

Planning for the test, including the storage tank lease, is also well underway.

The Surprise-1 horizontal well flowed light sweet crude at a maximum sustained rate of 380 barrels per day with low water cut, marking the first major onshore oil flow in the Northern Territory in nearly 50 years.

Its success serves to validate Central’s long-standing belief in the petroleum prospectivity of central Australia, expanding the commercial oil potential of its Western Amadeus Basin acreage.

The extended production test will give the company an idea of a stabilised flow rate, giving it a better base to plan a full scale development of the Surprise field.

This will be further enhanced by the planned 3D and 2D seismic programs over the field in EP 115, which along with the 2D seismic over the Pellinor Reef play in EP 97, are at the final design stage.

Central added it aimed to acquire the 3D seismic over Surprise before the test began to avoid seismic interference.

It is also accelerating efforts to attract farm-in partners to spread risk and reduce expenditure.

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