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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 to spud Ooraminna 2 next week

Friday, June 04, 2010

Central Petroleum (ASX: CTP) has intersected more coal in coal exploration well CBM 93-002, intersecting a number of coal seams individually up to 10m in thickness.

The CBM 93-002 well is at a depth of 772m. The well is expected to reach a prognosed Total Depth of 950-1,000m by Monday 7 June, the well will be logged and a more accurate assessment of coal intersections will be made.

Central holds a 70% interest and is Operator in EP 93, through wholly-owned subsidiary Merlin Energy Pty Ltd.

Of note, Central's anticipated drilling of Ooraminna 2 is getting closer with the last load of equipment expected to arrive on site by Monday 7 June. Target spud date is Wednesday 9 June.

Ooraminna 2 (2 TCFG “high” estimate UGIIP) is the first well in a planned 3-4 well programme for 2010 including the 500 MMbbl oil (“high” estimate UOIIP) Johnstone West 1 prospect and the 800 BCFG (“high” estimate UGIIP) and 15 BCF helium (“high” estimate UGIIP) Magee 2 well.

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