RANGE PILOT UPDATE: RANGE-7 SPUDS AND RANGE-6 COMPLETED

  1. 83.9k
    Posts

    Central Petroleum Limited (ASX:CTP) (“Central” or “Company”) 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 are drilled and completed and the wellhead facilities have
    been commissioned.
    Further updates will be provided as the programme progresses.

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

    DYOR

    MEREENIE RECOMPLETIONS COMMENCE
    Central Petroleum Limited (ASX:CTP) (“Central” or “Company”) 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.
    Further updates will be provided as the programme progresses.

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

    DYOR

    i do not hold this share

    am not sure how many members are holders of this now , but two anns the same day ??

    is there a cap. raise coming ??

    1 like
  2. 83.9k
    Posts

    RANGE PILOT UPDATE: RANGE-8 SPUDS AND RANGE-7 COMPLETED
    Central Petroleum Limited (ASX:CTP) (“Central” or “Company”) 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 wells are drilled and completed and the wellhead
    facilities have been commissioned.
    Further updates will be provided as the programme progresses.
    Figure 1 – Location of the Range CSG Pilot
    ASX ANNOUNCEMENT AND MEDIA RELEASE – CENTRAL PETROLEUM LIMITED Page 2
    About the Range Gas Project
    The Range Gas Project is a 50:50 Joint Venture between Central and a wholly owned
    subsidiary of Incitec Pivot Limited (ASX:IPL) in ATP 2031, a 77 km2 permit located in the Surat
    Basin, Queensland. The Range Gas Project contains an estimated 270 PJ* of 2C Contingent
    Gas Resource (Central share: 135 PJ*) and is positioned for development to take advantage
    of an expected shortfall of gas supply in eastern Australia by 2024.
    * Central’s 50% net interest is 135 PJ. Resources are as at 15 August 2019 and were independently certified by
    Netherland, Sewell & Associates. These resources were first reported to the market on 20 August 2019. PJs
    rounded to nearest full PJ. Central Petroleum Limited is not aware of any new information or data that materially
    affects the information included in this announcement and all the material assumptions and technical parameters
    underpinning the estimates in the relevant market announcement continue to apply and have not materially
    changed.

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

    DYOR

    i do not hold this share ( nor IPL )

    i MIGHT be missing something BUT the differences to the 5 day earlier Range update don't look like Price Sensitive to me ( unless it drops on disappointment )

    1 like
  3. 3.4k
    Posts

    No matter what announcements CTP make, the SP usually drops.
    Richard Cottee, from 2012, the downfall of share holder value enhancement in his quest to privatise the company and seems to be continued by this management and MacBank.
    Company only run for those in charge now and still no concern for share holders.

    1 like
  4. 83.9k
    Posts

    PROJECT RANGE UPDATE
    Central Petroleum Limited (ASX:CTP) (“Central” or “Company”) provides the following
    update on Project Range.
    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.
    Pre-FID Activities
    The Joint Venture is running a competitive tender process to select an infrastructure provider
    to deliver the gas processing facilities required to support the full field development. A number
    of proposals have been received from well-established infrastructure providers and these are
    currently under review by the Joint Venture. In addition, key approval documentation has
    progressed, particularly the Petroleum Lease Application which is expected to be finalised
    soon.
    “The strategy of closely spacing the pilot wells 200m apart has proven successful in delivering
    gas earlier than expected. We will continue to de-water the pilot to increase confidence in the
    water and gas ramp-up profile which will enable us to fine tune the Field Development Plan.
    We will progress the broader Range Project as expeditiously as we can, particularly now when
    east coast gas prices have rebounded so dramatically from their lows in 2020,” said Leon
    Devaney, CEO and MD of Central.
    Further updates will be provided as the programme progresses.
    ASX ANNOUNCEMENT AND MEDIA RELEASE – CENTRAL PETROLEUM LIMITED Page 2
    Figure 1 – Range Pilot Flare
    Figure 2 – Location of the Range CSG Pilot
    About the Range Gas Project
    The Range Gas Project is a 50:50 Joint Venture between Central and a wholly owned
    subsidiary of Incitec Pivot Limited (ASX:IPL) in ATP 2031, a 77 km2 permit located in the Surat
    Basin, Queensland. The Range Gas Project contains an estimated 270 PJ* of 2C Contingent
    ASX ANNOUNCEMENT AND MEDIA RELEASE – CENTRAL PETROLEUM LIMITED Page 3
    Gas Resource (Central share: 135 PJ*) and is positioned for development to take advantage
    of an expected shortfall of gas supply in eastern Australia by 2024.
    * Central’s 50% net interest is 135 PJ. Resources are as at 15 August 2019 and were independently certified by
    Netherland, Sewell & Associates. These resources were first reported to the market on 20 August 2019. PJs
    rounded to nearest full PJ. Central Petroleum Limited is not aware of any new information or data that materially
    affects the information included in this announcement and all the material assumptions and technical parameters
    underpinning the estimates in the relevant market announcement continue to apply and have not materially
    changed.
    -
    courtesy of Bell Direct
    =================================================================================================

    DYOR

    i do not hold this share ( nor IPL )

    and the share price went up 0.5c ( 9% ) but for how long ??

  5. 3.4k
    Posts

    not long Sal.

    1 like
  6. 3.4k
    Posts

    https://www.youtube.com/watch?v=EisDM1o22o4&t=7s

    .... and not one word about share holders.

    2 likes
  7. 181
    Posts

    Hi to all long suffering Central holders, its been about 4 years since visiting this site, but I'm still holding after more then 10 years and still hoping for managment to get there act together.

    2 likes
  8. 83.9k
    Posts

    i hope you aren't holding your breath

    i wish you and all the other holders a LOT of luck , but management has changed and so has the share price ... down to 11.5 cents

  9. 3.4k
    Posts

    Where's my last post gone to, just saying that I have been in CTP since 2008 and good to have bobsagood on TS.

    Also this website is so hard to log into , cannot post half the time or give thumbs up, etc.

    1 like
  10. 3.4k
    Posts

    That's the problem Sal, the management and JV gorillas have not changed at all.
    The whole company should have been sacked after their failed SoA a couple of years ago, .... time flies when your getting f over.

    2 likes
  11. 3.4k
    Posts

    Bloody hell, my posts are being posted quickly now, still must be the TS website, IMO.

    1 like
  12. 83.9k
    Posts

    SOMETIMES , i am on other sites as well ( Australian and international ones )

    sometimes it is only the Oz ones , sometimes all of them , sometimes the UK or US ones

    Bell Direct is chopping and disappearing posts as well

  13. 3.4k
    Posts

    Why would they be doing that, as not controversial that I wrote.

    1 like
  14. 83.9k
    Posts

    might NOT be censorship in all cases , MIGHT be partly the NBN buckling under pressure

    but that is just a guess ,

    but some nations have recruited the armed forces to help out the censorship

    1 like
Your browser is too old for TopStocks and not secure. Please update your browser