www.centralpetroleum.com.au
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 to re-enter Surprise-1 tomorrow, appoints new chief operating officer
Central Petroleum (ASX: CTP) is set to re-enter Surprise-1 ST1 on Wednesday 16 November, with the re-entry the first of the current liquids focussed drilling program on Central’s acreage, which includes Madigan or Simpson East and Mt Kitty.
Drilling and testing of Surprise-1 ST1 will take around a month and is forecast to be completed by about mid December 2011.
In other Central news, the company has appointed Dalton Hallgren as chief operating officer, with Hallgren to replace Al Thorsen who had to return to Canada due to personal family issues.
Hallgren is a well qualified manager and drilling engineer, having worked extensively, inter alia, in the Marcellus, Bakken, Haynesville and Barnett shale gas and shale oil plays in the U.S.
Highlighting Hallgren's experience, he has managed the drilling of numerous horizontal multi-stage fracced wells in such plays for companies such as Halliburton Project Management, Burlington Resources, Headington Oil, St Mary, Peak, Encana, Hess, Marathon and Conoco.
Well funded
In September Central raised $5 million through the placement of 91 million shares at $0.55 each to fund the drilling program and provide working capital.
The company also has a share purchase plan underway to raise a further $5.5 million, fully underwritten by Patersons Securities. The share purchase plan is due to close on November 28.
Central has plans to list on the Toronto Stock Exchange, to align it with other central Australian focussed TSX listed companies with comparable acreage positions and resource potential.


















