RANGE GAS PROJECT PILOT UPDATE PILOT EXPANSION TO ACCELERATE TESTING

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    Central Petroleum Limited (ASX:CTP) (“Central” or “Company”) provides the following
    update on its Range CSG Pilot in the Surat Basin.
    All three wells continue to operate reliably, with gas rates steadily increasing as dewatering
    continues. Daily flow rates have increased to around 50,000 scfd, up from 35,000 scfd in July.
    Production is currently paused while interference tests are conducted to better understand the
    connectivity of the coals.
    Water production rates remain lower than anticipated and as a result the dewatering process
    and ramp up of gas will now extend beyond the targeted three month test period.
    In order to accelerate our technical understanding of water and gas production profiles within
    the permit, the area subject to pilot testing will now be expanded. This will involve the drilling
    and completion of two additional step-out wells (Range 9 and 10) from the existing pilot wells
    which will be tied into the existing water tank.
    The Joint Venture intends to have these additional wells online in late 2021 or early 2022.
    “The Range Project is a key component of our near-term growth strategy, and we will tailor
    the pilot programme as required to gather the necessary data. As is common with CSG
    production, each well has a unique production profile, and by accelerating our appraisal efforts
    with the two additional wells, enhanced technical data can be attained and used to advance
    the Range Project towards a final investment decision (FID),” said Leon Devaney, CEO and
    MD of Central. “In pursuing this further technical data, there will be an impact on the timeline
    for FID, but we are still targeting first gas to market from 2024”.
    Further updates will be provided as the programme progresses

    courtesy of Bell Direct
    =================================================================================

    DYOR

    i do not hold CTP nor IPL ( but have held IPL in the past )

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