Sydney. Central Petroleum (ASX: CTP) as Operator, has today confirmed the presence of 130m of coal (in seams > 1m thick), ie 10m thicker than previously reported at the Coal Seam Gas exploration well CBM107001 in central Australia’s Pedirka Basin.
Central holds a 70% interest and is Operator in EP 107, through wholly-owned subsidiary Merlin Energy Pty Ltd, and is in JV with Petroleum Exploration Australia Limited (20%) and Red Sky Energy (NT) Pty Ltd (10%).
This more accurate assessment, which removes any miscalculation resulting from core losses or other wellsite issues, shows that the coals encountered were 325% thicker than the maximum anticipated pre-spud thickness of up to 40m.
The next well in the drilling program, CBM107002 (EP 107), will target the coal sequence in an updip location about 31 km updip to the northwest of CBM107001.
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