drilling update

Central Petroleum have announced new drilling date of 1 July. this of course effects RAW as well.

• Most of Hunt Rig 2, stores and equipment have arrived at the drill site of Blamore 1 but remedial works have proved to be necessary over part of the Blamore track and only single truckloads are now coming through to Blamore ; the anticipated spud date is now July 1st 2008 although the camp is in place and various rig and ancillary equipment and components are being assembled and tested.
• A total of three CBM wells are planned in the Pedirka Basin and 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.
• Blamore 1 and Simpson 1 oil wells are addressing up to 260 MMbbls of undiscovered oil initially in place (UOIIP)
• 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.
• Central plans also in 2008 to drill the Mt Kitty 1 (prospective recoverable resources up to 1.7 TCFG with condensate and Helium credits) and Ooraminna 2 (prospective recoverable resources of up to 0.7 TCFG) wells in Joint Venture with He Nuclear Limited (HEN) and Petroleum Exploration Australia Limited (PXA) respectively.