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Central Petroleum UCG GTL CBM LNG Helium

Central Petroleum is an ASX listed junior exploration and production company operating what is regarded as the biggest package of prospective acreage in Australia at over 250,000 km2.

Central Petroleum's leases -Basins

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Read why I think CTP is going to be one of Australia's best investments during 2010-2011

The Company plans to potentially capitalise on early cash flow from any oil discoveries but is seeking to build gas resources to a threshold point where value–adding processes such as LNG and or GTL for example can be brought into play. With helium prices approaching $130 USD/1,000 scfg in the USA, helium production and sales are regarded as an intrinsic part of this overall strategy. Apart from conventional gas reservoir potential, the Company has had independent estimates of over 10,000 trillion cubic feet in UCG “syngas” prospective recoverable resources and as well has produced inhouse estimates coupled with external independent reports of up to c.200 trillion cubic feet of gas in CSG and other unconventional reservoirs. Prospective recoverable resources of oil are in the billion barrel class.

The acreage includes the majority of the Pedirka Basin in the Northern Territory and in South Australia, the majority of the Amadeus Basin in the Northern Territory, all of the known Lander Trough in the Northern Territory and approximately 25,000 km2 of the Southern Georgina Basin.

SUMMARY: INDEPENDENT APPRAISAL REPORT ON THE COAL POTENTIAL HELD BY CENTRAL PETROLEUM LTD (ASX:CTP) IN THE PURNI FORMATION,PEDIRKA BASIN, CENTRAL AUSTRALIA

Read the full report

 

A REVIEW OF THE POTENTIAL FOR UNDERGROUND COAL GASIFICATION AND GAS TO LIQUIDS APPLICATIONS IN EP’s 93, 97, 105, 106 & 107 AND EPA’s 130 &131 PEDIRKA BASIN, ONSHORE NORTHERN TERRITORY AND PELA 77 PEDIRKA BASIN, ONSHORE SOUTH AUSTRALIA: 2009

The “best” case estimate is that an unrisked and as yet undiscovered Prospective Recoverable Synthetic gas (syngas) Resource of 12,500 trillion cubic feet (TCF) could be contained, above the arbitrary 1000 metre cutoff, within the Early Permian Purni Formation coals in Central’s Pedirka Basin acreage. The corresponding” maximum” and “minimum” estimate cases are 13,900 TCF and 11,100 TCF, respectively.

According to, inter alia, Holt Campbell Payton, Consulting Engineers of Perth, typically a Gas to Liquid (GTL) plant will require about 10 thousand standard cubic feet of gas (mmSCF) to synthesize one barrel of oil. This is equivalent to 100 million barrels of oil per TCF of gas. Hence the “best” indicative possible syngas ‘resource’ anticipated in the company’s total Pedirka Basin petroleum tenement acreage, 12,500 TCF, could produce some 1.25 trillion barrels of liquids. Similarly the maximum and minimum cases could produce 1.39 and 1.11 trillion barrels of liquids respectively.

The company’s entire Pedirka Basin petroleum tenement acreage with the above “best”, “high” and “low” estimates of possible recoverable prospective syngas gas resources from underground gasification operations, given above and the synthesis conversion rate, as stated above, could conceivably fuel a 140,000 bbl/day GTL plant for approximately 27,000 years, 30,000 years and 24,000 years respectively. These figures make little sense in a meaningful commercial analysis context but obviously higher output plants would need to be considered to exploit such a massive resource. The figures above may seem inordinately large, but if discounted by 90% would still constitute a massive potential resource project. The implication is that if the technology works and is commercial, and the resource estimates are substantiated, the upside potential could prove of major significance. Read full report

Recent Exploration Update
Central Petroleum reports preliminary drilling on CSG well shows 120m of coal, up 300% on estimates

Central Petroleum (ASX: CTP) reports preliminary results from 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 show 120m of coal (in seams > 1m thick) with individual seams up to 30m thick.

Results were 300% higher than estimated and coals were intersected over the interval 745m-1163m.

Results are consistent with analogous sub-bituminous coals intersected 95km north in CBM93001 and CBM 93004. These wells intersected 138m and 144m of coal respectively, in seams greater than 1m thickness.

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 (20%) and Red Sky Energy (NT) Ltd (10%).

Next well in the drilling program, CBM107002 (EP 107), will target the coal sequence in an updip location about 31 km to the northwest of CBM107001.

 

Current Joint Venture Developements Update

 

Central Petroleum(ASX: CTP)Quaterly 29/1/2010 Report

Central Peroleum Patersons Research Nov 30/09

Central Petroluem MD Interview 3/12/09

CTP: A Complete Package

Australian Mining and Energy
ASX listed shares.

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