Drilling progressed 57m during the week and a series of flow and pressure tests were undertaken to provide an estimate of the formation pressure within the P2 and P3 units of the Pacoota Formation. These tests were performed prior to setting a cement plug in the lower P2 section to cure the loss zone. This work has now been completed and mud drilling through the P4 unit commenced. Improved rates of penetration are expected once the remaining 95m of the P4 unit have been drilled.
The PV12 well has two alternate objectives. The primary deep gas exploration target is the Arumbera Sandstone at an anticipated depth of 3,560m. Alternatively, if the deep exploration target is not successful, a shallower gas appraisal lateral will be drilled in the currently producing P1 formation with the potential to become a production well.
The PV12 well is the first of a 2-well drilling program that also includes the Dingo-5 exploration / production well. Both wells are being drilled under joint ventures between Central (50% interest),
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Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the
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