Central Petroleum Limited (ASX:CTP) Range Pilot Update - Coal Thickness & Permeability Confirmed
Range Pilot Update - Coal Thickness & Permeability ConfirmedBrisbane, May 13, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
OTCMKTS:CNPTF) advises that all three wells comprising the Range Pilot Programme have been drilled successfully and surface equipment will now be installed prior to the installation of down-hole pumps.
The three Range pilot wells, Range-6, Range-7 and Range-8 were drilled to depths of between 675m and 685m and confirmed net coal of between 26m and 28m across the three coal seams of Walloon Coal Measures. Permeability testing of the Range-6 well confirmed that the coals have permeability levels consistent with the strong results from the four exploration wells drilled across ATP 2031 in mid-2019.
Tethys Petroleum Limited: Tethys Petroleum Interim Results
Grand Cayman, Cayman Islands (Newsfile Corp. - May 13, 2021) - Tethys Petroleum Limited
(TSXV: TPL) ( Tethys or the Company ) today announced that it has filed its Interim Results for the three months ended March 31, 2021. The full Interim Results together with Management s Discussion and Analysis have been filed with the Canadian securities regulatory authorities. Copies of the filed documents may be obtained via SEDAR at www.sedar.com or on Tethys website at www.tethys-group.com.
Operations update
Tethys is in the process of drilling KBD-03 and at last report was at a depth of 400 meters. In addition, Tethys will drill another well (KBD-06) offset to KBD-02. The rig/equipment for drilling KBD-06 has been delivered to the drill site and drilling is scheduled to begin on May 15
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PPL’s profit falls 15% to Rs12 billion
Drop comes due to contraction in sales and other income
KARACHI:
Pakistan Petroleum Limited’s profit dipped 15% to Rs12 billion in the quarter ended March 31, 2021 on the back of a contraction in sales and fall in other income.
According to a notice sent to the Pakistan Stock Exchange on Thursday, the oil and gas exploration and production firm had reported a profit of Rs14.1 billion in the same quarter of last year.
Earnings per share of the company amounted to Rs4.42 in the Jan-Mar 2021 quarter compared to Rs5.2 in the same quarter of previous year. During the quarter under review, net sales of the company were recorded at Rs36.9 billion, which was 9.7% lower than Rs40.9 billion in the same period of last year.
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)