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Coal Seam Gas

Central Petroleum -
ASX code CTP

Central Petroleum Limited, a junior exploration and production company, explores for hydrocarbons in Australia.
The company operates a prospective onshore acreage of approximately 270,000 km2, including permits already awarded and acreage under application with 250,000 km2 under the Petroleum Acts and 20,000 km2 under the Mining Acts primarily in the Northern Territory.
Its acreage covers the majority of the Pedirka Basin within the Northern Territory and South Australia; the majority of the Amadeus Basin in the Northern Territory; Lander Trough in the Northern Territory; and approximately 10,000 km2 of the Southern Georgina Basin.
The company was formerly known as Merlin Petroleum Limited and changed its name to Central Petroleum Limited in 2005. Central Petroleum Limited was founded in 1998 and is based in Toowong, Australia.
According to a December 2011 announcement: "Only the hydrocarbon zones in the Lower Stairway and the Middle Stairway are thought to have flow potential using conventional production techniques (ie not using hydraulic fracturing)."

Central Petroleum Ltd.
56-58 Jephson Street
Toowong, QLD 4066
Phone: 61 7 3181 3800
Fax: 61 7 3181 3855
Mr. Richard Ian Cottee BA, LLB(Hons)
Chief Exec. Officer, Managing Director, Director and Member of Nominations Committee 608.00K
Mr. Bruce William Elsholz BCom, CA,
Chief Financial Officer and Joint Company Sec. 305.00K
Mr. Michael Ray Herrington BSc, PE, MBS, Chief Operating Officer, Director and Member of Nominations Committee 416.00K
Mr. Daniel Christopher Matthew White LLB, BCom, LLM,
Group Gen. Counsel and Joint Company Sec. 478.00K
Mr. Leon Devaney BSc., MBA, Chief Commercial Officer 195.00K

According to Macroaxis, the company has return on total asset (ROA) of (23.39) % which means that it has lost $23.39 on every $100 spent on asset. This is way below average. Similarly, it shows return on equity (ROE) of (29.56) % meaning that it generated substantial loss on money invested by shareholders.

The Company’s operating portfolio includes prospective acreage in Central Australia, including the Pedirka and Amadeus Basins.

The Pedirka Basin has number of prospects, such as the Avalon and Blamore Prospects.
The Amadeus Basin is a proven hydrocarbon province, with the Mereenie (oil and gas) and the Palm Valley (gas) fields.
As of June 30, 2012, the Company identified four prospects considered for drilling in the Amadeus Basin.
In June 2013, Central Petroleum Ltd disposed its coal assets.

Search the ASX website for company announcements from CTP

CTP.AX Central Petroleum 5 year chart retrieved on 18 November 2013

France's Total makes first venture into Australian shale gas
Nov 6, 2012 - (Reuters) - France's Total (TOTF.PA) has made its first move into Australian shale gas, announcing on Tuesday that it has signed a farm-in agreement with Central Petroleum (CTP.AX) for shale gas exploration permits in central Australia.

The Australian shale gas industry is in its infancy, with the first commercial gas produced earlier this year by Australia's Santos (STO.AX).

But there are hopes in the energy industry that shale gas will eventually become part of Australia's booming liquefied natural gas (LNG) export industry.

Central Petroleum Limited (ASX:CTP) 11.12.12 Surprise-1 Update and SPP Extension
Dec 12, 2011 - Perth, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) ('Central' or the 'Company'), has pleasure in announcing that interpretation of electric logs, cuttings sampling, gas chromatography and coring to date has indicated a possible gross oil column in the Lower Stairway Sandstone of up to c.17m, with permeabilities ranging up to 420 Millidarcys measured in a 9m cored zone.

Smaller hydrocarbon zones up to c.1m in the Middle Stairway Sandstone and up to c.2m in the Top Pacoota Sandstone have also been interpreted.

The presence of hydrocarbons and elevated organic material in sections of the Horn Valley Siltstone has also been interpreted and samples taken will be studied for unconventional shale oil/gas potential.

Only the hydrocarbon zones in the Lower Stairway and the Middle Stairway are thought to have flow potential using conventional production techniques (ie not using hydraulic fracturing).

It is planned to complete a seismic check shot survey over the section from surface to the Total Depth reached to date of 2,732m RKB before running 7 inch casing. It is then planned to mill a window in the casing above the Middle Stairway Sandstone before directionally drilling a 6 inch sidetrack to intersect and drill a horizontal wellbore of up to c.700m through the interpreted Lower Stairway oil column.

The angle build and horizontal wellbore sections will utilise a gamma ray tool for geo steering, a modern technique commonly used to ensure accurate placement of the well bore within the potential production reservoir.

Underbalanced drilling techniques to minimise formation damage and maximize production potential are planned together with a 'barefoot' (uncased open hole) for completion, testing and possible production.

Mr Dalton Hallgren, the Company's recently appointed Chief Operating Officer and well qualified directional and horizontal Drilling Engineer, will take personal charge at the well site of the horizontal drilling and testing programme expected to commence by late this week following the setting of casing.

'The results thus far from the drilling and logging of Surprise-1 are such that a horizontal wellbore test of the Lower Stairway Sandstone is considered appropriate' said Mr John Heugh, the Managing Director this morning.

'Movable oil has yet to be proved but the Company is optimistic and believes that a horizontal wellbore offers the best possible chance for oil flow to surface by accessing a much longer sandstone section than is possible via a vertical wellbore.'

The Surprise ST-1 well has reached a Total Depth of 2,732m RKB within the Pacoota Sandstone in 8.5 inch hole size. These preliminary results are all subject to review and revision as more data is acquired.

Further updates will be released as significant results come to hand.

The revised programme is subject to the approval of the Northern Territory Department of Resources.

Given the timing of these operations, a further extension of the Share Purchase Plan is being considered. Any conclusions will be the subject of a further announcement.

Return mud-stream Surprise-1 showing free gas breakout and oil slicks in 8.9 ppg/1.07 SG mud (slightly overweight)-viewed on circulation after electric logging runs before planned check shot survey. Gas composition C1/C2/C4/C5 percentages 41 /24/ 20/ 11/ 4 respectively.

Note : No conclusions can be definitively made on the capability of the well to flow oil to surface from these indications but they are regarded as positive indicators rather than negative indicators.

About Central Petroleum Limited:

Central Petroleum (ASX:CTP) is an ASX listed junior exploration and production company operating what is regarded as the biggest package of prospective acreage in Australia.

Source: Central Petroleum Limited





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