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Central Petroleum signals unconventional oil exploration push, appoints new manager

Published: 03:30 05 Jul 2011 BST

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Central Petroleum (ASX: CTP) has appointed Trevor Shortt as the company's new exploration manager ahead of the company's planned liquids focussed exploration campaign in central Australia in the second half of 2011.

Shortt has an extensive track record in unconventional drilling, exploration and production operations gained through his experience with North American unconventional reservoirs. His appointment follows the resignation of Stewart Bayford.

Potential exists for unconventional resources in central Australia that may be comparable to North American plays such as the Baaken, Eagleford and Barnett shale plays.

Central's enormous combined land position in the Southern Georgina Basin and the Amadeus Basin is over 25,000 square kilometres.

Central is anticipating the grant of ATPs 909, 911 and 912 in the Amadeus Basin within several months and, the grant of EPA 132 in the Southern Georgina Basin a little later.

Central's Exploration's Exploration 132 (EP) has high potential for unconventional hydrocarbons and is partially contiguous with the permits of Baraka Petroleum (ASX: BKP) and PetroFrontier Corp's (TSX-V: PFC) in the Toko Syncline and the Bradley Shelf, with these two companies recently announcing a drilling program to test unconventional resources in the area.

Shortt's extensive experience in geology and geophysics with EnCana Corporation, Home Oil, Renaissance Energy and Chevron will be an asset for Central as it participates in the quest to thread the needle in the Southern Georgina Basin.

Although Central’s liquids focussed exploration effort has considerable exploration and development potential in its conventional resources, its unconventional resources are considerably bigger as a result of recent evaluation.

Shortt’s considerable experience in both early phase and the latest unconventional exploration techniques in North America will be of considerable value to Central going forward.

John Heugh, Central’s managing director, said “Mr Shortt’s experience in shale gas, shale oil and tight reservoirs gained in such plays as the Bakken in the Williston Basin, the Ansell, Cardium, Notikewin and Cutbank Ridge will be of immense value to the company.

“As Central has numerous salt related and reefal carbonate complex plays which have never been tested, Mr Shortt’s active participation and successful exploration discoveries in reefal/carbonate plays such as the Slave Point, Nisku, Wabamun, Red River, Hastings, Jean Marie and Keg River plays as well as salt dissolution structures are also highly regarded.”

Central expects to announce the selection of drilling contractor in the coming weeks. The campaign is planned to include the re-entry and testing of Surprise-1 for oil potential in both conventional and unconventional horizons.

It will also drill the Mt Kitty gas/condensate/helium prospect and Madigan-1, the first well on a giant structure in the Pedirka Basin which has potential of over 4 billion barrels, based on preliminary mapping of new seismic acquired in 2010.

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