Central Petroleum Limited
(ASX:CTP) (“Central”) has pleasure in announcing that it will attend the North American Prospect Expo (NAPE) being held in Houston, Texas. Central plans on presenting on 16 February 2011 to the International Forum and will host a display booth at the main event on 17 and 18 February 2011.
Managing Director John Heugh will give the presentation attached to this announcement to the forum and inter alia anticipates having a number of one-on-one meetings with major players in US unconventional resources on the fundamental attractiveness and prospectivity of Central’s vast unconventional (shale oil, shale gas and tight gas sand) acreage.
The Company remains committed to value adding dealings in its acreage to assist in exploration and potential development and to reduce the amount of equity capital that may need to be raised.
Central retains an undivided 100% net interest in the unconventional prospective acreage it operates with the exception of various royalties including State royalties payable on production.
The prospective recoverable resources of Central’s holdings in the Amadeus Basin have been independently assessed at over 1 billion barrels of oil and 25 TCFG at “mean” level in the unconventional category (shale gas, shale oil and tight gas sands).
A similar study is under way of Central’s acreage in the Southern Georgina Basin (ATPs 909,911 and 912 anticipated to be granted within 6 months) where the companies Baraka Petroleum and Petrofrontier have recently announced a drilling programme to test unconventional resources in ground partially contiguous with Central’s acreage. Independent group, Ryder Scott have assessed the “high” prospective recoverable resources in EPs 103,104, 127 and 128 at approximately 27 billion barrels.
