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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 encounters coal drilling CSG well

Tuesday, May 04, 2010

Central Petroleum (ASX: CTP) has tagged coal some 32m higher than the prognosed depth of 270m RT, during drilling at its its fourth coal seam gas, (CSG) well, CBM107-002 (EP107).

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 Pty Ltd (20%) and Red Sky Energy (NT) Ltd (10%). CBM 107-002 is located at Latitude 24 degrees 58 minutes 33.599seconds, Longitude 135 degrees 29 minutes 13.2 seconds.

“A very encouraging result” said John Heugh, Central’s managing director, today. “This will almost certainly result in the remapping of the Permian coal targets in the Pedirka Basin and may enhance the prospects of encountering biogenically derived coal seam gas as well as potentially adding to the already massive JORC coal “Exploration Target” we are evaluating here.”

The coal was encountered while drilling the surface hole with a 8.5” tricone drill bit prior to running 7” casing which was planned closer to the prognosed top of the coal at 270m RT. Approximately 3.5 m of coal was drilled prior to pulling out of the hole to run casing

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