Brisbane, Australia - Central Petroleum Ltd. (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that Range-10, the first of two step-out pilot wells, spudded on 5 February 2022 at 1700 EST.
The Range-10 well has a target depth of 630m below rotary table and will be completed across the three seams of the Walloons Coal Measures and tested over several months to confirm water and gas flow rates.
The two step-out pilot wells, Range 9 and 10, are intended to demonstrate coal properties away from the initial pilot location. Range 9 and 10 will be spaced at a greater distance apart than the original pilot wells and tied-in to the existing water storage tank.
Central Petroleum Ltd. (Central) is a well-established, and emerging ASX-listed Australian oil and gas producer (ASX:CTP). In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
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Brisbane, Australia - Central Petroleum Ltd. (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that Range-10, the first of two step-out pilot wells, spudded on 5 February 2022 at 1700 EST.
