Central Petroleum Limited, as Operator, has notified the Northern Territory Department of Resources (DOR) of the discovery status of CSG exploration well CBM107001 (Latitude: 25° 12' 21.18 S and Longitude: 135° 41' 36.41 E) in EP 107 in central Australia's Pedirka Basin.
Electric log analysis completed subsequent to the Company's last announcement on 26 February 2010 has confirmed the presence of 130m of coal (in seams > 1m thick), ie 10m thicker than previously reported. This more accurate assessment, which removes any miscalculation resulting from core losses or other wellsite issues, shows that the coals encountered were 325% thicker than the maximum anticipated pre-spud thickness of up to 40m.
Central holds a 70% interest and is Operator in EP 107, through wholly-owned subsidiary Merlin Energy Pty Ltd, and is in JV with Petroleum Exploration Australia Limited (20%) and Red Sky Energy (NT) Pty Ltd (10%).
The next well in the drilling program, CBM107002 (EP 107), will target the coal sequence in an updip location about 31 km updip to the northwest of CBM107001.