Additional Information
Market: ASX
Sector: Energy
EPIC: CTP
Latest Price: A$0.09  (0,00%)
52-week High: A$0.11
52-week Low: A$0.04
Market Cap: A$125.89M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Central Petroleum Limited
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.

Pdf

Central Petroleum to re-enter Surprise-1 tomorrow, appoints new chief operating officer

15th Nov 2011, 3:56 am

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.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.