Brisbane - Central Petroleum Ltd. (ASX:CTP) ("Company" or "Central") as operator of the Mereenie Joint Venture announcesWest Mereenie 26 has reached the targeted Lower Stairway 2 sandstone as confirmed by cutting samples and logging while drilling Gamma Ray log. The horizontal section of the well now extends 425m and is now in the interval expected to be the most highly fractured, the results of which should be known in the next day or two. While minor gas shows and connection gas have been observed, there is evidence of fracture plugging with minerals.
Horizontal drilling progresses as per plan. The well will be evaluated for completion design at the end of this segment of the well e.g. open hole, cased hole or stimulated.
About Central Petroleum Limited:
Central Petroleum Ltd. (ASX:CTP) is an oil and gas explorer and producer listed on the Australian Securities Exchange focused on supplying the domestic gas market. Central is advancing several separate projects across what is regarded as the biggest package of proven and prospective oil and gas acreage across central Australia. This spread of assets gives Central multiple options for growth and development. 88% of this land being gas prone has led to the Company's focus on becoming a major domestic gas producer.
Contact:
Central Petroleum Ltd. T: +61-7-3181-3800 F: +61-7-3181-3855 E: info@centralpetroleum.com.au www.centralpetroleum.com.au
Media Enquiries Martin Debelle at Citadel-MAGNUS T: +61-2-8234-0100 M: +61-409-911-189
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Brisbane - Central Petroleum Ltd. (ASX:CTP) ("Company" or "Central") as operator of the Mereenie Joint Venture announcesWest Mereenie 26 has reached the targeted Lower Stairway 2 sandstone as confirmed by cutting samples and logging while drilling Gamma Ray log. The horizontal section of the well now extends 425m and is now in the interval expected to be the most highly fractured, the results of which should be known in the next day or two. While minor gas shows and connection gas have been observed, there is evidence of fracture plugging with minerals.
