Central Petroleum Limited: Drilling Update - Gaudi-1 Unconventional Well

20.10.2014  |  ABN Newswire

Brisbane, Australia (ABN Newswire) - Central Petroleum Ltd. (ASX:CTP) (OTCMKTS:CPTLF) ("Company" or "Central"), 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 Arthur Creek formation, coring is a precursor to the design of production wells.

The objective of the Gaudi-1 well is to place into sealed canisters cores of the shale or siltstone with the gas still embedded for desorption analysis (ie the rate at which gas will be released from the host rock) giving the gas content. The fact that the cores are desorbing (releasing) gas is a positive early sign. Results of the desorption analysis will be released as soon as they are known.

To view the location map, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-695511.pdf


About Central Petroleum Limited:

Central Petroleum Ltd. (ASX:CTP) (OTCMKTS:CPTLF) is an ASX listed junior exploration and production company operating the largest holding of prospective onshore acreage in Australia totalling over 270,000 km2, c.70 million acres. This acreage includes permits already awarded and acreage under application with 250,000 km2 under the Petroleum Acts and 20,000 km2 under the Mining Acts mainly in the Northern Territory with smaller holdings in Western Australia, South Australia and Queensland.



Contact:

Central Petroleum Ltd.
T: +61 (0)7 3181 3800
F: +61 (0)7 3181 3855
www.centralpetroleum.com.au