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 commences road works ahead of drilling at Ooraminna 2, NT
Monday, March 15, 2010
Central Petroleum (ASX: CTP) has commenced the necessary road works required to enable access to site of Ooraminna 2, located in the Northern Territory, the first well in Central’s 2010 conventional drilling program.
The company said Ooraminna 2 is essentially a step out, or appraisal, well that follows Ooraminna 1, which was the first well drilled in the Amadeus Basin by Exoil in 1963 which flowed gas to surface.
Central said it understands the prospect was never tested properly and the company believes it may host up to 2 Trillion Cubic Feet of Gas (TCFG) at “high” estimate of Undiscovered Gas Initially In Place (UGIIP).
The prospect is considered to be similar in structure to the Palm Valley field in the same basin (which Central understands has delivered over 100 MMCFG/day on test from individual wells), in that it is thought to have fracture dominant production potential and as such will require a deviated well to intersect the maximum number of vertical to sub-vertical fractures.
These fractures are thought to occur on the crest of the 300 km2 structure that would enhance production potential.
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