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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
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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’s Surprise-1 well increases oil flow rate

12th Jan 2012, 12:53 am

Central Petroleum (ASX: CTP) has increased the sustained flow rate of the Surprise-1 Re-entry H well by 20% in further flow testing.

In the most recent flow test, the well flowed at 380 barrels per day, up from the 300 barrels per day announced yesterday.

This had a low 4.4% drilling fluid and/or water cut, down from 8% yesterday.

Flow testing at Surprise-1 has returned the first significant onshore oil flow in the Northern Territory in nearly 50 years.

It is also central Australia’s first ever horizontal well completion to produce oil.

The well has been temporarily shut in for pressure build analysis. So far the well has reached more than 520 pounds per square inch (PSI) and is increasing at 1.5PSI per hour.

Oil flowed to date will be analysed and an interim reservoir analysis conducted to determine the best flow regime to extend the current well test program.

Importantly, the oil flowed from Surprise-1 is a light sweet crude with an API Gravity averaging 40 degrees and no evidence of hydrogen sulphide.

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