Central Petroleum announces oil flow June 21, 2012 01:14 PM
Shares in Central Petroleum Limited (ASX:CTP) have risen after the oil and gas explorer announced it has begun flowing the Surprise 1 REH ST1 well. The exploration and production company says the initial production rate will be determined by the Extended Production Test program protocols. Logistics for transport are understood to be coordinated to allow the first load of oil to reach market at or about the end of next week. Shares in Central Petroleum were trading 4.17 per cent higher this morning at $0.125. Central Petroleum booked a net loss of $12.95 million in the first half of its 2012 financial year.
Shares in Central Petroleum Limited (ASX:CTP) have risen after the oil and gas explorer announced it has begun flowing the Surprise 1 REH ST1 well.
The exploration and production company says the initial production rate will be determined by the Extended Production Test program protocols. Logistics for transport are understood to be coordinated to allow the first load of oil to reach market at or about the end of next week. Shares in Central Petroleum were trading 4.17 per cent higher this morning at $0.125. Central Petroleum booked a net loss of $12.95 million in the first half of its 2012 financial year.