Media ReleasesCentral Petroleum

View All Central Petroleum News


CENTRAL PETROLEUM LIMITED, SURPRISE-1 RE-ENTRY INCREASE IN OIL FLOW

- 20% increase in oil flow to 380 bbls/day

- 0% decrease in water/drilling fluid cut to 4.4%

Central Petroleum Limited (ASX:CTP) (“Central” or the “Company”) advises that further flow testing today of the Surprise-1 Re-entry H (S1REH) well has resulted in a c.20% increase in sustained flow rate via a 32/64” choke to 380 bbls/day with a low 4.4% drilling fluid and/or water cut-reduced from a previous average of 8%.

The well is temporarily shut in for pressure build analysis and has reached over 520 PSI thus far and now increasing at 1.5 PSI per hour.

The Company plans to have the current oil flowed to date analysed and an interim reservoir analysis conducted to determine the best flow regime for an extension of the current well test programme, contingent on various logistic issues.

The oil flowed to date is a “light sweet crude” with an API Gravity averaging 40 Degrees. There is no evidence of Hydrogen Sulphide (H2S).


For further information please download PDF below:

Download this document

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.