Central Petroleum mobilizing drilling rig to Blamore 1 oil well
  by: OilOnline
  Tuesday, May 27, 2008

Central Petroleum Limited has decided to begin moblising Hunt Rig No.2 to the Blamore 1 oil well location in the Pedirka Basin on June 5th 2008. Water is being produced from 3 water well sites to assist in road preparation. Any change to this programme brought about by possible operational exigencies will be promptly notified to the market.

The Pedirka Basin is a recognised prospective province for oil exploration with many similarities to the Cooper Basin. Previous drilling has underscored the presence of three distinct petroleum systems in the Permian, Triassic and Jurassic as well as highlighting the potential for Coal Bed Methane prospective recoverable resources.

The Blamore 1 oil well is to be followed by one or two CBM exploration wells prior to drilling the Simpson 1 well.

Total Undisovered Oil Initially in Place "high" estimate (UOIIP) to be addressed by the Joint Venture with Petroleum Exploration Australia Limited (PXA) in the Pedirka Basin is now over 700 MMbbls in the Blamore, Avalon, Simpson, Bejah and Dune prospects together with assessed prospective recoverable resources ("low" to high" estimate) of 34-70 TCFG in CBM in the shallower coal sections of the Pedirka Basin.

The initial programme planned for 2008 is Blamore 1, and 3 CBM wells, (some of which will also test deeper conventionally reservoired oil and gas potential) and Simpson 1. Seismic has been shot by the Joint Venture with PXA over the Madigan prospect, (EP 97) the Guinevere prospect and the Vivienne prospect (both in EP 93).

Central with Joint Venture partner Petroleum Exploration Australia is farming in to the Simpson, Bejah and Dune prospect blocks in EP 97 held by Rawson Resources Limited. (RAW).

Subject to drilling success and the results of new seismic being mapped, the Joint Venture may determine to keep the drilling rig in the Pedirka to drill additional prospects prior to releasing for the remainder of the 2008 drilling programme inclusive of Mt Kitty 1 and Ooraminna 2 in the Amadeus Basin.

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