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Central Petroleum Limited (CTP.AX) Mereenie Production Wells Tied-In and Rig Released

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Central Petroleum Limited
Central Petroleum Limited

Central Petroleum Limited (CTP.AX) Mereenie Production Wells Tied-In and Rig Released

Brisbane, Australia, Sep 27, 2021 - (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (HAM:C9J) (OTCMKTS:CNPTF) advises that drilling and completion of the new production wells, WM27 & WM28, is complete and Easternwell Rig 27 was released on 23rd September 2021.

Both wells have been tied-in and WM28 is now online and producing from both the Pacoota-1 and Pacoota-3 formations. WM27 was completed successfully as a single zone Pacoota-1 producer and is expected to come online shortly.

At this stage the Mereenie Recompletions and Development Programme is anticipated to add around 10 TJ/d of wellhead capacity (gross JV). The market for gas remains strong, and Central expects to market the gas into spot and term markets over the coming months.

Given the encouraging flows from the Upper Stairway formation in WM28, Central has commenced conceptual planning for further appraisal of this resource, subject to JV approval.

To view figures, please visit:
https://abnnewswire.net/lnk/8U80E925


About Central Petroleum Limited:


Central Petroleum Limited (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.

Contact:

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969

Source:
Central Petroleum Limited

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