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Additional Information

Market:	ASX
Sector:	Oil and Gas Exploration and Production
EPIC:	CTP
Latest Price:	0.05 (-3.57% )
52-week High:	0.08
52-week Low:	0.04
Market Cap:	57.96M

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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 reports on coal seam gas and Ooraminna 2 drilling

Tuesday, June 01, 2010

Central Petroleum (ASX: CTP) has reported that the coal seam gas and coal exploration well, CBM 93-002 is currently at 513 metres and running casing.

The interpreted top Permian coal was intersected at 510 m at which depth the well intersected 3 m of coal which was rotary drilled. Casing has been cemented in place and coring of the Permian sequence (HQ core) is planned to commence later today.

Central holds a 70% interest and is Operator in EP 93, through wholly-owned subsidiary Merlin Energy Pty Ltd, and is in JV with Petroleum Exploration Australia Pty Ltd (20%) and Red Sky Energy (NT) Pty Ltd (10%).

Coal Discovery

Central has notified the Northern Territory Department of Resources of a "coal discovery" in its previously drilled CBM107-002 well.

CBM 107-002, the previous well, encountered the first coal (c. 3.5 m) at 238m, now thought to be Triassic in age. The top Permian (Purni Formation) coal was encountered at 294m and the well reached a TD of 604m intersecting a cumulative thickness of coal of 65m including two seams of 16m and 20m thickness respectively.

Ooraminna 2 Spud Delayed

The company has reported today that due to a failure to load out various rig components in time to meet the contracted May 31, 2010 spud date, the spud of Ooraminna 2 has been delayed with an anticipated new spud date of Friday 4 June, 2010.

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