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Central Petroleum Limited (CTP.AX) Drilling Update

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Central Petroleum Limited
Central Petroleum Limited

Central Petroleum Limited (CTP.AX) Drilling Update

Brisbane, Australia, Jan 25, 2022 - (ABN Newswire) - Central Petroleum Ltd (ASX:CTP) (HAM:C9J) (OTCMKTS:CNPTF) provides the following drilling update.

NORTHERN TERRITORY EXPLORATION DRILLING

As previously advised, Central has contracted Ensign Rig 963 for the Palm Valley and Dingo exploration drilling program in the Amadeus Basin.

The rig was expected to mobilise to Palm Valley from its current drilling program (Buru Energy) in the Canning Basin in late January.

Ensign has now advised Central that as a result of recent unforeseen issues with Buru's current drilling operations, there will be a delay in the order of a month to the rig's mobilisation date. Ensign 963 is now expected to mobilise to the Palm Valley Exploration well site in late February 2022, followed by spudding of the well in March 2022.

RANGE PILOT DRILLING

As previously advised, Silver City Drilling Rig 23 has been contracted to drill the Range 9 and 10 step-out wells. After unusually heavy rainfall over December 2021 and early January 2022, civil works have begun, with drilling now expected to commence in early February 2022.


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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