Central Petroleum Limited (ASX:CTP) Quarterly Activities Report & Appendix 5B
OTCMKTS:CNPTF) provide the quarterly activities report & Appendix 5B for the March quarter.
- Cash balance at the end of the March quarter (the quarter) was $37.7 million, compared to the $38.5 million balance at 31 December 2020, reflecting:
- $7.4 million net cash flow from operations (before exploration and finance costs) which includes $2.9 million under the take or pay provisions of gas supply contracts for CY2020
- Increased exploration activity ($2.5 million expended) as the Range pilot drilling campaign commenced
- Preparations for commencement of the Mereenie Development Program (included in $2.0 million of capital expenditure)
Central Petroleum Limited (ASX:CTP) Range Pilot Update - Range-8 Spuds and Range-7 Completed
Range Pilot Update - Range-8 Spuds and Range-7 CompletedBrisbane, April 28, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
OTCMKTS:CNPTF) advises that Range-8, the third well in the three well Range Pilot Programme, spudded on 28 April 2021 at 07:00 Hrs.
The Range-8 well has a target depth of 680m below rotary table (RT) and will be completed across the three seams of the Walloon Coal Measures. The pilot wells will be tested over several months to confirm water and gas flow rates.
The second well in the programme, Range-7, was successfully executed in line with the well plan. Total Depth (TD) was reached at 680m RT and the Walloons coals were intercepted over a depth range from 214m RT to 607m RT. The well was successfully cased and suspended with a slotted liner over the coals and the well was prepared for completion. The wells will be brought online once all pilot wel
Central Petroleum Limited (ASX:CTP) Mereenie Recompletions Commence
OTCMKTS:CNPTF) advises that recompletion operations commenced on WM20, the first well in the Mereenie Development Programme.
The 2021 Mereenie Development Programme consists of the recompletion of four existing wells (WM14, WM15, WM19 and WM20) followed by the drilling of two new development wells (WM27 and WM28). These activities are intended to return field production capacity back towards 45 TJ/d (100% JV) and produce at least an additional 40 PJ of gas over the lifetime of the field (20 PJ net to Central). This will enable the Mereenie JV to commit to new gas sales into what is anticipated to be an increasingly tight east coast gas market.
Central Petroleum Limited (ASX:CTP) Range Pilot Update - Range-7 Spuds and Range-6 Completed
Range Pilot Update - Range-7 Spuds and Range-6 CompletedBrisbane, April 22, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
OTCMKTS:CNPTF) advises that Range-7, the second well in the three well Range Pilot Programme, spudded on 22 April 2021 at 7.30am.
The Range-7 well has a target depth of 694m below rotary table (RT) and will be completed across the three seams of the Walloon Coal Measures. The pilot wells will be tested over several months to confirm water and gas flow rates.
The first well in the programme, Range-6, was successfully executed in line with the well plan. Total Depth (TD) was reached at 675m RT and the Walloons coals were intercepted over a depth range from 260m RT to 610m RT. The well was successfully cased and suspended with a slotted liner over the coals and the well was prepared for completion. The wells will be brought online once all pilot wells
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Gladstone’s push to be at the pinnacle of the global renewable hydrogen industry continues to solidify with news the city will be one of five ‘hubs’ in the Federal Government’s $539.2 million clean hydrogen and carbon capture technologies program.
The port city’s skilled workforce, port and gas infrastructure, proximity to energy resources and large scale industrial demand factors resulted in Gladstone being listed as a ‘highly prospective’ hub location.
The announcement follows the progressive development of Hydrogen Park Gladstone and the March agreement between Japan’s Sumitomo Corporation, and multiple local and national partners, to develop the world’s first hydrogen ecosystem at Gladstone.