PALM VALLEY 12 DRILLING UPDATE

The Operator (“Central”) (ASX: CTP) advises that as at 0600 hrs ACST on 19 September 2022, drilling of the Palm Valley 12 (PV12) sidetrack (ST2) into the Pacoota-1 (P1) was ongoing. The well is in OL3, Southwest of Alice Springs in the Northern Territory. The drilling of the 8.5” section was completed at a depth of 1,860m. Operations are underway to run and cement the 7” liner. Drilling of the 6” open hole section in the P1 will continue once these operations are concluded.
The P1 formation is the currently producing formation at Palm Valley. A successful PV12 lateral in the P1 formation will be tied into existing production facilities and gas production sold into strong Northern Territory and East Coast gas markets.
The PV12 ST2 well is being drilled under a joint venture between Central (50% interest), New Zealand Oil & Gas Limited (ASX: NZO) (35% interest) and Cue Energy Resources Limited (ASX: CUE) (15% interest).

For further information please contact the Company on:
email [email protected]
phone +64 4 495 2424

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Announcement PDF