Central Petroleum Limited (ASX: CTP) has completed its assessment of an unconventional gas and oil assessment of the Lower Larapinta Group sediments of Central’s Amadeus Basin permit and application areas by DSWPET Pty Ltd and MBA Petroleum Consultants, independent Australian experts in unconventional resource assessments.
In summary the prospective recoverable (unconventional) resource for the Lower Larapinta Group in the Amadeus Basin within the company’s acreage is estimated to be approximately 26 trillion cubic feet of gas (Tcf) and 1 billion barrels of oil. As the distribution of commercially viable resource is difficult to predict until more data is to hand, the high or P10 quantifications are based on a maximum of only 30% of the potential play surface area, which although not technically fully risked does impute a degree of conservatism to the numbers quoted.
"The resource estimates for these plays will require a significant amount of more seismic, drilling and testing to potentially confirm or redefine” said John Heugh, Central’s managing director today, “but these results, by one of Australia’s leading consultancies in the field of unconventional resources, provides the company with a sound basis upon which to attract bigger companies into productive joint ventures."
Central retains an undivided 100% interest in the acreage.
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