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 moves closer to drilling Ooraminna 2
Monday, May 24, 2010
Central Petroleum (ASX: CTP), a junior exploration and production company, has reported that the first components of the MB Century Rig #7 drilling rig and camp arrived at Alice Springs in the Northern territory on Saturday 22 May with the company moving closer to drilling the much anticipated Ooraminna 2 well.
In a statement the company said that trailers are now being unloaded at the Ooraminna 2 well site and returning to Roma for additional loadouts.
Central holds a 70% interest and is Operator in EP 82, through wholly-owned subsidiary Helium Australia Pty Ltd, and is in JV with Petroleum Exploration Australia Pty Ltd (20%) and Red Sky Energy (NT) Pty Ltd (ASX: ROG) (10%).
Ooraminna 2 is located at Latitude 24 degrees 01 minutes 05.83 seconds, Longitude 134 degrees 10 minutes 10.95 seconds.
John Heugh, managing director, said the Ooraminna 2 structure has been assessed as hosting up to 2 trillion cubic feet of gas at “high” UGIIP level and has flowed gas to surface in the Ooraminna 1 well drilled in 1963.
MB Century is contracted to spud the well on or before May 31, 2010.
Central Petroleum owns one of the largest packages of prospective oil and gas acreage in Australia with Central Australia being a relatively under-explored and underdeveloped petroleum province.
No investment advice
The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.
You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.
From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
