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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 reports Ooraminna 2 well continues to flare gas

Tuesday, July 20, 2010

Perth-based Central Petroleum (ASX:CTP) has reported the Ooraminna 2 well continues to flare gas during drilling but no new zones have been encountered.

The company as operator said it had encountered delays to the planned drill programme at Ooraminna 2 due to blockages in downhole air hammer equipment.

The blockages have been caused by material flaking off the internal surfaces of drilling pipe. The whole drilling string has now been sand-blasted internally in an effort to eradicate or significantly reduce the incidence of further blockages.

The company intends to to drill ahead with air to maximise potential gas flows and to reach planned Total Depth as quickly as possible prior to logging the well to evaluate further the gas zone(s) encountered to date.

A pressurized acid wash of the main gas zone, the Pioneer Sandstone, is contemplated upon reaching the planned TD of 1,777m RT subject to review of the final logs of the well. Ooraminna 2 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.

Central is Operator and holds a 90% interest and in EP 82, through wholly-owned subsidiary Helium Australia Pty Ltd,

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