Mobilization of Hunt Rig 2 is poised to commence on 10th June...

Mobilization of Hunt Rig 2 is poised to commence on 10th June with the
planned sequence of the Blamore 1 well followed by a Coal Bed Methane well
(CBM) or two and then the Simpson 1 well in the Pedirka Basin. The Finke
Desert Race due to start on June 6th and run for 3 days has effectively closed
the road from Kulgera to the Simpson Desert. Time to complete mobilization is
approximately 10-15 days on a trouble free basis. An updated Gant chart is
attached.
• The third water bore for road building purposes located at the Blamore 1 well
site is being utilised but with some diminished flow rates until a deeper pump
position for the permanent pump can be arranged later today or tomorrow.
• A total of three CBM wells are also planned in the Pedirka. Blamore 1 and
Simpson 1 oil wells are addressing up to 260 MMbbls of undiscovered oil
initially in place (UOIIP) and the CBM wells will be the first in a series planned
to flow test possible CBM recoverable resources of 34-70 TCFG in the Permian
and Triassic coals known to be distributed through the Pedirka Basin by
previous drilling and regional seismic.
• Central is in Joint Venture with Rawson Resources Limited (RAW) and
Petroleum Exploration Australia Limited (PXA) on Simpson 1 and with PXA on
the CBM wells and Blamore 1.