Central Petroleum Ltd. advises that Range-8, the third well in the three well Range Pilot Programme, spudded on 28 April 2021 at 07:00 Hrs. The Range-8 well has a target depth of 680m below rotary table and will be completed across the three seams of the Walloon Coal Measures. The pilot wells will be tested over several months to confirm water and gas flow rates. The second well in the programme, Range-7, was successfully [...]
Central Petroleum Ltd. advises that Range-7, the second well in the three well Range Pilot Programme, spudded on 22 April 2021 at 7.30am. The Range-7 well has a target depth of 694m below rotary table and will be completed across the three seams of the Walloon Coal Measures. The pilot wells will be tested over several months to confirm water and gas flow rates. The first well in the programme, Range-6, was successfully [...]
Central Petroleum Ltd. advises that recompletion operations commenced on WM20, the first well in the Mereenie Development Programme. The 2021 Mereenie Development Programme consists of the recompletion of four existing wells followed by the drilling of two new development wells . These activities are intended to return field production capacity back towards 45 TJ/d and produce at least an additional 40 PJ of gas over the [...]
Central Petroleum Ltd. advises that Range-6, the first well in the three well Range Pilot Programme, spudded on 11th April 2021 at 9:30pm. The Range-6 well has a target depth of 704m below rotary table and will be completed across the three seams of the Walloon Coal Measures and tested over several months to confirm water and gas flow rates. The Range pilot consists of three wells closely spaced at 200m apart to [...]
Central Petroleum Ltd. has contracted with Easternwell Group Operations Pty Ltd to have Rig 27 recomplete four existing wells and drill two new development wells at the Mereenie Oil and Gas Field in the Northern Territory. The rig is expected to commence mobilisation to site during April, with the recompletions commencing in April and the first development well expected to spud in May. The Mereenie field activities are [...]
Central Petroleum Ltd. announces that the webcast presentation will be delivered on Friday, 26 February 2021 commencing at 10:00am AEST. The Chief Executive Officer and Managing Director, Mr Leon Devaney, will cover the Company's financial performance and activities for the half year to December 2020 and provide an update on current and planned activities. Attendees will be provided an opportunity to submit questions for [...]
Central Petroleum Ltd. today reports a net profit after tax of $2.5 million for the half year to 31 December 2020, continuing solid financial performance despite the market downturn experienced in 2020. This is up 15% on the previous half year due to lower exploration activity, corporate cost savings and lower interest and depreciation charges. Earnings Before Interest, Tax, Depreciation, Amortisation and Exploration was [...]
Central Petroleum Ltd. has been advised by Santos QNT Pty Ltd as the Operator of the EP112 Joint Venture that it requires further time to complete technical studies before a proposal can be put forward for EP112 JV approval in relation to further drilling at the Dukas prospect. No definitive guidance has been provided by Santos in relation to timing for EP112 JV approval on the Dukas drilling program. As Central announced [...]
Central Petroleum Ltd. provide the review of operations and the Quarterly Activities and Cashflow Report. Highlights - Cash balance at the end of the December quarter was $38.5 million, up from the $26.3 million balance at 30 September 2020, reflecting: - $16.6 million net cash flow from operations which includes the receipt of proceeds from the pre-sale of 3.5 PJ of gas to be delivered in 2022 and 2023 - Principal [...]
Central Petroleum Ltd. has contracted with Silver City Drilling Pty Ltd to have Rig 34 drill three appraisal pilot wells at Central's Range Gas Project in Queensland's Surat Basin. The first well is expected to spud in early April 2021. The Range Gas Project is being progressed under a 50:50 joint venture between wholly-owned subsidiaries of Central and Incitec Pivot Limited . These wells represent the next appraisal [...]
Central Petroleum Ltd. announces that Mr Wrix Gasteen has resigned as a director of Central Petroleum Ltd. and all its subsidiaries effective 28 November 2020. The Board has accordingly brought forward the appointment of Mr Mick McCormack as Chair effective 28 November 2020. Central Petroleum's MD and CEO, Mr Leon Devaney, commented "Wrix has been an integral part of the transformation Central has achieved over the past 5 [...]
In his address to shareholders at the 2020 Annual General Meeting, the Chair of Central Petroleum Ltd. Mr Wrix Gasteen, stated that it would be his last AGM as Chair. Under Mr Gasteen's leadership the Central Board has been expanded to incorporate the balance of skills, experience and vision required to deliver on Central's plans. This has included adding two very experienced professionals to the Board in the last 6 [...]
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