Central Petroleum Limited (ASX:CTP) (“Central”) has pleasure in releasing the report “Unconventional Reservoir Resource Assessment of the Arthur Creek Formation Georgina Basin, Australia for Central Petroleum Pty Limited” by DSWPET. The report concludes that in Central’s Southern Georgina Basin permit applications, there is a total “mean” prospective recoverable resource of 5 billion barrels of oil and 33 trillion cubic feet of gas over a CTP net acreage position of 6,000,000 acres, (subject to the granting of the permits concerned, EPA 132 and ATPs 909,911 and 912).
There has been a profound ground swell of interest in unconventional exploration and development globally in recent years and much of that interest stems from developments in North America, where billions of dollars have been spent, inter alia, by majors such as Shell, BP, BHP Billiton and Exxon Mobil to acquire parts of new unconventional plays such as the Barnett Shale and Bakken Shale with technically recoverable resources of 50 TCF gas and 4 billion barrels of oil respectively.
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