CTP - Central Petroleum

[Anmar]

19th Nov - CTP Release

Surprise Development Plan

1. Petroleum Licence

All NT Government approvals in Place
Conceptual Agreement with Traditional Owners
Expect Export Licence in December

2. Surprise East

4,100 bbl tank bought (3,500 bbls usable)
Work over crane contracted
All other equipment (pipes and tubing etc) bought
On track to commence in January
Negotiated Oil purchase agreement - strong market
On revised budget of $3 million.

3 Surprise West

On track to commence drilling in March
On track to commence production in May

 

[pilots]

19th Nov - CTP Release

Surprise Development Plan

1. Petroleum Licence

All NT Government approvals in Place
Conceptual Agreement with Traditional Owners
Expect Export Licence in December

2. Surprise East


4,100 bbl tank bought (3,500 bbls usable)
Work over crane contracted
All other equipment (pipes and tubing etc) bought
On track to commence in January
Negotiated Oil purchase agreement - strong market
On revised budget of $3 million.

3 Surprise West

On track to commence drilling in March
On track to commence production in May

All NT Government approvals in Place
Conceptual Agreement with Traditional Owners
Expect Export Licence in December , lol.lol. Mate you sure have got that wrong, how long have they been waiting for the PL???, you have a CR coming whats that going to do to the SP??.

 

[Anmar]

19th Feb 2014

CENTRAL PETROLEUM PURCHASES
MAGELLAN’S AUSTRALIAN ONSHORE ASSETS FOR $35 MILLION

● Palm Valley and Dingo fields purchased for consideration of $20 million and around
39.5 million shares in Central providing the means to shift Central from explorer to
multi-field producer in both oil & gas markets

 

[Anmar]

Central Petroleum granted production licence

Central Petroleum (CTP) has been granted a production licence over its Surprise Oil Field in the Northern Territory.

The company is hopeful that all facilities required for long term production at the field will be fully operational by the week of 10 March 2014.

Surprise West is expected to be cash flow positive with gross revenue margins forecast to be between $50-$60/bbl depending on the volumes produced and the current Tapis crude oil price.

The onshore licence is the first to be awarded in 30 years.

It had recently increased its acreage in the Northern Territory through the acquisition of Magellan Petroleum’s onshore assets, which include the Palm Valley and Dingo fields.

 

[Anmar]

13th March 2014

Central Petroleum advised that the Surprise West-1 well has commenced production. The initial flow rates from Surprise West-1 have exceeded expectation, producing around 675 barrels of oil (flush production, not on pump) in an initial 24-hour period. This initial 24-hour flush production is encouraging, flowing at a rate of around 70% higher than the maximum flow rate achieved during the extended production test. A pump has been installed and following final commissioning shortly will be available to enhance production and oil recovery over the life of the well. Initial storage tanks and related production infrastructure have been installed at site in order to make production available for sale. The company plans to announce the initial flow rate of the well when on pump for a continuous period of 24 hours.

The SP is now $0.510

 

[pilots]

Whats the SP to day?? whats Surprise flow rates now??.

 

[raimop]

French energy giant Total and its junior partner Central Petroleum (CTP) have successfully spudded the Whiteley-1 unconventional gas exploration well within ATP 912 in the Southern Georgina Basin yesterday.This is Total's first onshore well in Australia.

The well is being drilled using Enerdrill's Rig-2 in Queensland, and is being operated by CTP. Data from Whiteley-1 will be vital in assessing the unconventional potential of the largely untested basin. The primary objective is the Lower Arthur Creek Formation, which will be fully cored and sampled for gas desorption and reservoir properties, in addition to an extensive logging program to evaluate the hydrocarbon resource potential.

The second well in the program, Gaudi-1, is scheduled to spud in mid-September in the nearby ATP 909.

Each well is expected to be drilled to a total depth of between 2,500 metres and 2,900m and will be extensively cored, and are estimated to be drilled and cased in about two months on a trouble-free basis.

I hold.

 

[raimop]

Central Petroleum [CTP] has begun clearing works for the Dingo gas field development in central Australia’s Amadeus basin 65 km south of Alice Springs.
This week CTP received a pipeline licence (PL30) from the Northern Territory government. This follows the granting of a petroleum production licence (PPL 7) earlier this year and the more recent approval from the Territory’s Department of Mines and Energy for the preliminary field development plan and the preliminary reservoir management plan.
The development comprises a field gathering system that will connect two production wells to a central processing plant and a wholly owned 45-km pipeline to the Northern Territory government-owned Owens Spring power station.
Start of gas production is slated for first-quarter 2015.
CTP acquired the Dingo field, along with the producing Palm Valley gas field to the west, from Magellan Petroleum Australia in March in a deal worth $AUS35 million.
Dingo field was discovered in 1981. In September 2013 Magellan signed a contract with Northern Territory Power & Water Corp. for the long-term sale of as much as 31 petajoules of gas from Dingo on a take-or-pay basis for 20 years.

I hold

 

[raimop]

CTP has today requested an immediate trading halt pending an announcement regarding the SANTOS Farmout Agreement.

In the meantime SANTOS continues to trade ?

 

[raimop]

CTP has today requested an immediate trading halt pending an announcement regarding the SANTOS Farmout Agreement.

In the meantime SANTOS continues to trade ?

On 31 July 2014 Central Petroleum [CTP] announced that its joint venture partner Santos [STO] has elected to proceed to Stage 2 of an amended Southern Amadeus Joint Venture [SAJV]. This will allow CTP & STO to concentrate their spending on the areas with the highest prospectivity.

Buoyed by the results of the Mt Kitty well and the 1,587km of 2D seismic acquired during Phase 1 of the farm out CTP & STO will now obtain a further 1300 km of 2D seismic over the Southern Amadeus area. This is estimated to cost $12million. The cost will be borne by STO and will result in STO earning a 40%c interest in all the permits in the SAJV. These include EP 82, 105, 106, 107, 112 and 147.

A decision on how to progress the Mt Kitty well is expected by the end of August. [In May 2014 testing of the well was postponed due to a rig incident]

As a result of the change of direction by the SAJV Central and Santos’ have elected not to proceed as a joint venture in the Pedirka Basin (EPs 93 & 97).

I HOLD

 

[raimop]

Central Petroleum [CTP] said on Wednesday [27/8/14] it had been advised by its joint venture partner Santos [STO] that it is preparing to re -enter the Mt Kitty -1 exploration well in the Amadeus Basin NT. Work at the Mt Kitty-1 well was put on hold in April when logging operations were interrupted following an incident with the drilling rig.

Following the completion of the re-entry operations and evaluation of the well, the joint venture plans to carry out a resource estimation and economics study and plan any future work programme EP 125.

Mt Kitty-1 was designed to evaluate the quality of the Heavitree formation reservoir section, where elevated gas readings were observed during drilling. The well intersected 109 metres of Heavitree formation and flowed at an initial rate of 500,000 cubic feet per day.

I HOLD

 

[raimop]

This is an extract from an interview with Richard Cottee that appeared in the Spring edition of "Gas Today"

Q. What are Central Petroleum’s main focuses in terms of gas exploration at the moment, and what do you see in the year ahead for the company?

A. Our main focus is the Southern Georgina unconventional play with Total – obviously a super major would only go in if they saw a super major-sized prize. There’s going to be $100 million firing into that over the next two years, so that’s going to be pretty interesting. Other focuses are the commercialisation of Magellan assets and development, and solving the Mount Kitty riddle – drilling confirmed substantial presence of gas, but testing was interrupted by a rig problem and showed inconclusive/contradictory results. Retesting cannot occur until the rig is restored.

The Northern Territory is set to become a major gas hub, with the operating Darwin LNG facility, Ichthys Project, Bonaparte LNG potential and significant investment in exploration by operators and by the NT government. What are the challenges in realizing the NT’s natural gas potential? Primarily the NT has to combine with the eastern states through a pipeline. There is always going to be a problem with the distance required, or finding sufficient reserves when the domestic market is the problem for non-LNG discoveries. The infrastructure needs some form of national help to ensure eastern markets are properly supplied. It is in the interests of the whole of Australia that it does occur. Eastern Australia needs natural gas supplies for industry and domestic use – it is an economic imperative that underpins our domestic economic welfare. Challenges lie in ensuring community support – it is vital.

I HOLD

 

[pilots]

What is the flow rate at Surprise now, and what is PV producing today, compared with what it was producing two years ago, why has Dingo not come on line be for now.

 

[raimop]

What is the flow rate at Surprise now, and what is PV producing today, compared with what it was producing two years ago, why has Dingo not come on line be for now.

Hi Pilots,
I have looked at recent presentations / reports and advise as follows
Surprise is flowing oil at the rate of 180 - 200 bopd
PV producing 100,000 GJ per month [I think]
DINGO has commencement date of H1 2015

I HOLD

 

[pilots]

Why is PV producing only half of what it produced two years ago?? I see CTP have lost the case and have to pay out $1,500,000, to JH, not looking good just now as CTP are going to need about $22MIL very soon, now way would I hold this baby.

 

[raimop]

CTP has been advised by Santos, the Operator of Amadeus Basin permit EP 125, that wireline logging in the Mt Kitty exploration well has been successfully completed.

Sidewall cores confirmed that the Heavitree Quartzite is absent in the well and that the previously reported gas flows were from granitic basement. Raw formation image logs indicate that basement is extensively fractured. This is typical of many structures in the Amadeus Basin, and generally enhances productivity.

The well is currently being plugged and suspended. Full evaluation of well results and integration with seismic may resut in a decision to drill an oriented sidetrack in future, aiming to maximise intersection with observed fracturing.

Central Petroleum Managing Director, Richard Cottee said, 'Central is pleased this drilling operation has now been successfully concluded with positive indications of hydrocarbons and helium gas in this large and under-explored area. The results of Mt Kitty 1 have encouraged Santos to proceed with Stage 2 of a farm-in to Central's Southern Amadeus Basin exploration permits, which will see at least 200 kms of a total 1,300 kms seismic acquired in EP 125.'

I HOLD [but only 10k] anyone else out there have a view about this one

 

[pilots]

CTP has been advised by Santos, the Operator of Amadeus Basin permit EP 125, that wireline logging in the Mt Kitty exploration well has been successfully completed.

Sidewall cores confirmed that the Heavitree Quartzite is absent in the well and that the previously reported gas flows were from granitic basement. Raw formation image logs indicate that basement is extensively fractured. This is typical of many structures in the Amadeus Basin, and generally enhances productivity.

The well is currently being plugged and suspended. Full evaluation of well results and integration with seismic may resut in a decision to drill an oriented sidetrack in future, aiming to maximise intersection with observed fracturing.

Central Petroleum Managing Director, Richard Cottee said, 'Central is pleased this drilling operation has now been successfully concluded with positive indications of hydrocarbons and helium gas in this large and under-explored area. The results of Mt Kitty 1 have encouraged Santos to proceed with Stage 2 of a farm-in to Central's Southern Amadeus Basin exploration permits, which will see at least 200 kms of a total 1,300 kms seismic acquired in EP 125.'

I HOLD [but only 10k] anyone else out there have a view about this one

anyone else out there have a view about this one, looking at the SP now I would say its a DOG.

 

[pilots]

Its now OFFICIAL its a dog, 4.1c in the old money, come on ramp team tell us what has gone wrong.

 

[ravishankaray]

Its now OFFICIAL its a dog, 4.1c in the old money, come on ramp team tell us what has gone wrong.

Now 1.8c, old money, .... a lot less than your 5c prediction pilots.

I hope ASIC is looking into this one.

 

[pilots]

ASIC what a joke, they was given CVI on a plate, they had all the info to lock some one up, what did they do, NOTHING, CTP is trading at what it's worth, I see that the top ramper has unloaded a lot of his shares,you have a merry Xmas and a happy new year.