In line with the Company’s focus on liquids exploration and potential exploitation for early cash flow, Central Petroleum Limited (ASX:CTP) (“Central”) has pleasure in releasing CTP Technical Note 11.04.27, “Devonian Reef/Platform Complex Oil Plays Underlying the Pedirka Basin”.
Previous Technical Notes have described elements of the interpreted carbonate complexes underlying the Permian sediments of the Pedirka Basin. This note details further development of the play types and concludes that the leads identified to date have potential Undiscovered Oil Initially In Place (UOIIP) at “best” estimate of 6 billion barrels. (See general disclaimer following). The play types largely lie within the EP 97 “Simpson” and “Pellinor” Prospect Blocks (CTP 80%, Rawson Resources Limited 20%)
“The additional seismic that Central acquired in 2010 has been invaluable in developing a significant number of new leads and play types in the central Amadeus Basin but these oil plays interpreted in the Pedirka Basin are of fundamental importance in the Company’s overarching strategy for early cash flow from oil and liquids discovery” said John Heugh, Central’s Managing Director today.
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