Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that drilling and completion of the new production wells, WM27 & WM28, is complete and Easternwell Rig 27 was released on 23rd September 2021.
Both wells have been tied-in and WM28 is now online and producing from both the Pacoota-1 and Pacoota-3 formations. WM27 was completed successfully as a single zone Pacoota-1 producer and is expected to come online shortly.
At this stage the Mereenie Recompletions and Development Programme is anticipated to add around 10 TJ/d of wellhead capacity (gross JV). The market for gas remains strong, and Central expects to market the gas into spot and term markets over the coming months.
Given the encouraging flows from the Upper Stairway formation in WM28, Central has commenced conceptual planning for further appraisal of this resource, subject to JV approval.
To view figures, please visit:
Investor and Media Inquiries: Greg Bourke: +61-478-318-702 Sarah Morgan: +61-421-664-969
News Provided by ABN Newswire