Central Petroleum Ltd.

Central Petroleum, has reached agreement with IOR Transport Pty Ltd for the domestic transportation of the crude produced at Surprise West.This new arrangement will cut the costs of transportation by over 20%. Production at Surprise has remained stable at around 180 BOPD with the last 2 weeks averaging 175.6 BOPD with a water cut of 15.6%."As all of our costs are in Australian dollars, the weakening of the Australian [...]

Central Petroleum, as Operator of the Southern Georgina Joint Venture, advises that coring at Gaudi-1 (see map in link below) continues having reached a depth of 2,157 metres in the Lower Arthur Creek Formation. There have been 8 cores taken to date representing over 10 percent of the total expected to be taken for Gaudi-1.With the Southern Georgina Joint Venture evaluating the unconventional shale gas potential of the [...]

Central Petroleum, as Operator of the Southern Georgina Joint Venture, advises that drilling of Gaudi-1 continues.As at 06:00hrs on 17 October 2014 Gaudi-1 well was cutting its first core which has now been completed. Drilling reached 2,102m on 7 October 2014 and wireline logs were run to confirm stratigraphy. After logging, intermediate casing was run and cemented in preparation for the coring operations through the [...]

Central Petroleum welcomes the recent Council of Australian Governments (COAG) announcement which states: "COAG supported the work being undertaken by the Northern Territory to establish a competitive process for the private sector to bring forward proposals for the construction and operation of a pipeline to connect the Northern and Eastern Gas Markets. COAG agreed that connecting these gas markets is the next step to [...]

Central Petroleum, as Operator of the Southern Georgina Joint Venture, advises that drilling of Gaudi-1 continues. As at 06:00hrs on 7 October 2014 Gaudi-1 was drilling ahead in 8 1/2" hole at a depth of 2,095m. Once drilling reaches 2,102m wireline logs will be run to confirm stratigraphy. After logging it is planned to run intermediate casing and then commence coring operations through the Arthur Creek [...]

Central Petroleum is now poised to unlock the undoubted shareholder wealth that has been latent for so long. Santos has committed to Stage 2 of the Farm-in for the Southern Amadeus Joint Venture. Drilling at Mt Kitty has proved that the Southern Amadeus is hydro-carbon charged and has helium to contribute handsomely to the economics of development. The drilling for the Southern Georgina joint venture with Total has also [...]

Central Petroleum has agreed to place 20 million shares at $0.30 per share with institutional investors in Australia and Hong Kong raising $6 million. The $0.30 issue price represents a 1.7% discount to the 10-day VWAP.The proceeds from the Placement in conjunction with existing cash reserves will ensure the Company has the capital required to fund its gas exploration programme and normal Company expenses."This capital [...]

Central Petroleum, advises that drilling of Gaudi-1 commenced on Sunday 14th of September 2014.Currently the rig is drilling ahead with 12 1/4" Top hole at a measured depth of below 400m.Gaudi-1 is the second well in a program of unconventional gas exploration wells operated by Central (via subsidiary Merlin Energy Pty Ltd in partnership with Total) and is being drilled using Enerdrill Rig 2.The primary objective is the [...]

Central Petroleum reports that Santos as operator of the Southern Amadeus Joint Venture advises that wireline logging in the Mt Kitty EP 125 exploration well has been successfully completed.Sidewall cores confirmed that the Heavitree Quartzite is absent in the well and that the previously reported gas flows were from granitic basement. Raw formation image logs indicate that basement is extensively fractured. This is [...]

Central Petroleum Latest Company Presentation at the RIU Good Oil Conference, 9 September 2014 Central Poised for Growth - Future in the Pipeline RIU Good Oil Conference - Perth Tuesday, 9th September 2014 To view the conference presentation, please visit: About Central Petroleum Limited:Central Petroleum Ltd. (ASX:CTP) (OTCMKTS:CPTLY) is an ASX listed junior exploration and production company operating the largest [...]