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Additional Information

Market:	ASX
Sector:	Oil and Gas Exploration and Production
EPIC:	CTP
Latest Price:	0.06 (-6.67% )
52-week High:	0.08
52-week Low:	0.04
Market Cap:	60.11M

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Central Petroleum Full Central Petroleum profile here

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.

Central Petroleum in discovery in CSG well CBM107-001

Wednesday, March 03, 2010

Central Petroleum (ASX: CTP) as Operator, has today confirmed the presence of 130m of coal (in seams > 1m thick), ie 10m thicker than previously reported at the Coal Seam Gas exploration well CBM107001 in central Australia’s Pedirka Basin.

Central holds a 70% interest and is Operator in EP 107, through wholly-owned subsidiary Merlin Energy Pty Ltd, and is in JV with Petroleum Exploration Australia Limited (20%) and Red Sky Energy (NT) Pty Ltd (10%).

This more accurate assessment, which removes any miscalculation resulting from core losses or other wellsite issues, shows that the coals encountered were 325% thicker than the maximum anticipated pre-spud thickness of up to 40m.

The next well in the drilling program, CBM107002 (EP 107), will target the coal sequence in an updip location about 31 km updip to the northwest of CBM107001.

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