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Central Petroleum Limited (ASX:CTP) Project Range Update    Three Well Pilot Program All three wells have been operating continuously since commencement of pumping on 14 June 2021. Well drawdown was gradually increased via a controlled reduction in the fluid level, which is now just above the pumps. Gas breakthrough was observed in the annulus immediately upon commencement of pumping. This was earlier than expected and indicates the presence of coals that are fully saturated with gas. Shortly after pumping commenced, sufficient gas was being produced to sustain the flare. After around four weeks of well drawdown, the aggregate daily gas rate has reached around 35,000 scfd and is expected to continue climbing. The aggregate water rates are lower than anticipated which implies less capital will be required for water handling, processing and disposal in the development phase.

Northern territoryCentral petroleumPetroleum lease applicationAustralian gas infrastructure groupField development planPilot programPetroleum limitedJoint ventureField developmentOrange projectLeon devaneyMoomba gas pipelineFinal investmentSurat basinProject rangeவடக்கு பிரதேசம்