Central Petroleum Limited (ASX:CTP) Surprise-1 Drilling Update

Perth, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) has completed running electric logs at the Surprise-1 well and is in the process of utilising a Modular Formation Dynamics Tester (MDT) tool which measures formation pressures and samples reservoir fluids. The data obtained from these processes will help establish the fluid content and hydrocarbon saturation of the reservoir, and to an extent, the permeability and producibility of the reservoir. In addition, seismic check shots and rotary sidewall cores are planned to add to the database being used to assess the hydrocarbon content of the Surprise prospect.

Minor delays are being experienced as a result of an operational issue which has arisen while running the MDT tool. It is expected that the preliminary results from this testing program will be released in the week commencing Monday, 12 December 2011.

These preliminary results are all subject to review and revision as more data comes to hand.

About Central Petroleum Limited:

Central Petroleum (ASX:CTP) is an ASX listed junior exploration and production company operating what is regarded as the biggest package of prospective acreage in Australia.

Source:

Central Petroleum Limited

Contact:

John Heugh
Managing Director
Central Petroleum Limited
Tel: +61-8-9474-1444