Central talking with prospective farminees

CENTRAL Petroleum says it is in “active but confidential discussions” with several potential partners looking to farm-in to its assets in the Amadeus and Pedirka basins. In addition, the company claims to be making good progress in gathering seismic and other technical data.
Central talking with prospective farminees Central talking with prospective farminees Central talking with prospective farminees Central talking with prospective farminees Central talking with prospective farminees

The Perth-based company says reprocessing of “good quality” seismic data, covering the Avalon and Blamore prospects in the Pedirka Basin, is now complete. Following bid assessments, it said a comprehensive analysis, including well prognoses for up to two prospects, was expected for completion within the next fortnight.

“These prospects have previously been assessed as having high estimates of potentially recoverable hydrocarbons totalling together about 200 million barrels, according to [independent geologists] Mulready Consultants,” Central managing director John Heugh said.

“Best estimates for the two prospects combined were assessed at a total of 118 million barrels.”

In addition, Central said it is currently assessing the cost of building roads and alternative access routes, following on-ground and helicopter surveys of the areas.

Meanwhile in the Amadeus Basin, Central says full colour 1:25,000 scale aerial photography of the Ooraminna and Waterhouse structures is now complete, while a detailed structural analysis of these and the Johnstone, Gypsum and Mt Kitty prospects has now started. This analysis is drawing upon previous work, offset drilling data, new and existing aerial photography and other technical imagery, according to Central.

Mulray Consultants have estimated the Johnstone prospect contains a potential 112 million bbl of recoverable reserves. Estimates for the Mt Kitty, Ooraminna and Waterhouse prospects were a combined total of 3.4 trillion cubic feet of gas and 112 million bbl of oil. In addition, the Kitty prospect has the potential to contain up to an additional 105 billion cubic feet of helium, according to Central.

The Gypsum prospect, which immediately neighbours Johnstone, has been estimated to contain a potential 5 million bbl of recoverable oil. Central described Gypsum as a “relatively simple structure” with primary and secondary targets at respective depths of 800m and 1800m.

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