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ASX ANNOUNCEMENT ASX CODE: CTP
01 December 2011
TO: The Manager, Company Announcements ASX Limited
CONTACT: John Heugh +61 8 9474 1444
65 MILLION ACRES ADDITIONAL UNCONVENTIONAL PLAY EXPLORATION TARGETS
Central Petroleum Limited (ASX:CTP) (“Central” or the “Company”) has pleasure in announcing a new Technical Note from the Company detailing up to 65 million acres (260,000 km2) of unconventional play exploration targets in its acreage. These horizon areas are an incremental addition to those unconventional exploration plays and resources detailed by DSWPET Pty Ltd in the Southern Georgina and Amadeus Basins totalling some 11 million acres.
The additional unconventional play exploration targets described by Ambrose and Heugh in the attached Technical Note 11.12.01 (in the Palaeozoic and Pre-Cambrian throughout the Lander Trough of the Wiso Basin, the Amadeus Basin and Pedirka/Eromanga Basins) are represented by known mature source rocks with elevated TOCs (Total Organic Contents) in a series of superimposed (vertically stacked) horizons which have been drilled, at least in part. Many of these horizons have been logged, sampled and analysed but not specifically for the purposes of unconventional exploration.
Although the commercial exploitation of most unconventional exploration play targets such as those in North America is restricted to a modest percentage (20-40%) of the total play area, the exploration targets described in the accompanying technical note may represent important additional horizons for exploration going forward for the Company.
These results are preliminary and based on sparse drilling and sampling from historical and recent exploration over a 50 year period. Significantly more exploration, sampling and analyses is required before any resource figures may result. The observations in the accompanying Technical Note are subject to review as more data comes to hand.
John Heugh
Managing Director
Central Petroleum Limited
For further information contact:
John Heugh Tel: +61 8 9474 1444 or
Ray Beatty Corporate Writers Tel: +613 9224 5272, M: +61 409 174 565