CENTRAL Petroleum will have to wait a little longer to determine the commercial potential of the Johnstone West-1 well in the Amadeus Basin after flow testing of the well was delayed. The company said it had to delay the flow testing due to an electro-mechanical malfunction of a bridge plug.
The bridge plug is designed to isolate the zone of interest, however the plug didnt seat in the correct position.
Central is attempting to retrieve the plug but if retrieval fails, the company will mill the plug to remove it.
The company added that the flow testing of the oil shows in the Lower Stairway sandstone of the JW-1 is expected to be completed early in the coming week.
Central has said it believes the positive results from the well in EP 115 could lead to a new Amadeus Basin oil and gas province.
CTP Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
