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 increases flow rate at Ooraminna 2 well
Perth-based Central Petroleum (ASX: CTP) has reported that drilling at the Ooraminna 2 well has increased the flow rate from 142 to 152 MCFG/day (thousands of cubic feet per day) in a stablised flow through a ½” choke, as a result of the acid squeeze on the top Pioneer Sandstone.
In a statement the company said all electric logs have been run, and the Ooraminna-2 well will be plugged and abandoned.
The combined CMI and Sonic logs remain to be fully analysed, and it is the intention that these and all other relevant data will be subject to specialist assessment of the potential for commercial production of tight gas from the confirmed Ooraminna accumulation as well as natural fracture mapping and orientation.
This will include the evaluation of appropriate drilling and well completion options, including horizontal drilling and formation fraccing techniques.
The initial assessment of the well indicates that no significant natural fractures were intercepted but detailed structural analysis is hoped to provide pertinent insight into other locations and well orientations which have potential for enhanced flow rates.
John Heugh, Central’s managing director, said “the Ooraminna structure in its entirety extends well beyond the currently mapped closure of 300 km2 to a total area well over 1,000 km2 and our knowledge to date of naturally occurring fracture patterns and potential additional closure is minimal.”
“Although there are some parallels to other tight gas plays around the world, the combination of dolomitised limestone, thick calcareous shale bodies and the very large structure at Ooraminna set this apart from many of them."
"Although further study may indicate otherwise, it is thought that the structure may have been formed via the high level intrusion of a large salt dome at depth. There is a lot more work to be done on this structure; we have only begun the process,” said Heugh.
Investors should note that the largest portion of the greater Ooraminna structure lies within EPA 147, currently the subject of an application to the Central Land Council to re-commence negotiations.
Following the setting of cement surface plugs, the drilling rig will now be rigged down and shifted to the next well in the programme, Johnstone West 1.
Ooraminna 2 was 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.
Road works and drilling pad preparation for the spudding of Johnstone West 1 and the supply of casing and relevant hardware has largely been completed and the company anticipates that the well will spud on or about the 14th August 2010.
Central is Operator and holds a 100% interest and in EP 82, through wholly-owned subsidiary Helium Australia Pty Ltd. Ooraminna 2 is located at Latitude 24 degrees 01 minutes 05.83 seconds South, Longitude 134 degrees 10 minutes 10.95 seconds East.
