Central Petroleum Ltd.

Central Petroleum Ltd. 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 [...]

Central Petroleum Ltd. advises that the Range pilot has commenced production. The three wells have been successfully drilled and completed, and surface facilities have been installed and commissioned. The pumps have been started at low speeds and the wells are presently producing water to the storage tank. The pumps will be ramped up over the next two weeks to gradually increase water rates and control well drawdown [...]

Central Petroleum Ltd. advises that WM27, the first Development well in the Mereenie Development Programme, was spudded on 3rd June 2021 at 2145 hrs. The rig has moved off the recompletions of the four existing wells , and these wells are scheduled to be progressively brought back on-line over the coming days. WM27 is being drilled at a crestal location targeting increased gas production. This well, along with another [...]

Central Petroleum Ltd. 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 [...]

Central Petroleum Ltd. provide the quarterly activities report & Appendix 5B for the March quarter. - Cash balance at the end of the March 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 which includes $2.9 million under the take or pay provisions of gas supply contracts for CY2020 - Increased exploration activity as the Range [...]

Central Petroleum Ltd. 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 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 [...]

Central Petroleum Ltd. 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 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 [...]

Central Petroleum Ltd. 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 followed by the drilling of two new development wells . These activities are intended to return field production capacity back towards 45 TJ/d and produce at least an additional 40 PJ of gas over the [...]

Central Petroleum Ltd. advises that Range-6, the first well in the three well Range Pilot Programme, spudded on 11th April 2021 at 9:30pm. The Range-6 well has a target depth of 704m below rotary table and will be completed across the three seams of the Walloon Coal Measures and tested over several months to confirm water and gas flow rates. The Range pilot consists of three wells closely spaced at 200m apart to [...]

Central Petroleum Ltd. has contracted with Easternwell Group Operations Pty Ltd to have Rig 27 recomplete four existing wells and drill two new development wells at the Mereenie Oil and Gas Field in the Northern Territory. The rig is expected to commence mobilisation to site during April, with the recompletions commencing in April and the first development well expected to spud in May. The Mereenie field activities are [...]