Central Petroleum Limited (ASX:CTP) Range Gas Project Update - Drilling Rig Contracted
Range Gas Project Update - Drilling Rig ContractedBrisbane, Jan 25, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
OTCMKTS:CNPTF) has contracted with Silver City Drilling (NSW) 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 ( Range JV ) between wholly-owned subsidiaries of Central and Incitec Pivot Limited (
These wells represent the next appraisal stage after the 2019 four-well exploration programme successfully identified a high-quality 2C contingent gas resource of 270 PJ (100% JV) in the proven Walloons CSG play. The three pilot wells are designed to produce water to surface and gas to a local flare in order to provide key subsurface and production data. If successful, this pilot we