Drilling Continues at Whiteley-1 Unconventional Gas Well in Queensland

Central Petroleum Limited (Company or Central), disclosed Friday that drilling of the Whiteley-1 unconventional gas exploration well in permit ATP912 in Southern Georgina Basin, Queensland, Australia is proceeding to prognosis.

As at 1500hrs today the measured depth is 3,251 feet (991 meters). Intermediate 8.5 inch hole section has been total depthed and the rig is preparing to electronically log the intermediate hole section prior to running the 7 inch intermediate casing.

Whiteley-1 is the first of a program of unconventional gas exploration wells operated by Central (via subsidiary Merlin Energy Pty Ltd in partnership with international energy company Total) and is to be drilled using Enerdrill Rig 2.

The primary objective is the Lower Arthur Creek Formation, which will be fully cored and sampled for gas desorption and reservoir properties, in addition to an extensive logging program to evaluate the hydrocarbon resource potential.

The second well in the program, Gaudi-1, is scheduled to spud in mid-September 2014 in ATP909.

Each well is expected to be drilled to a total depth of approximately 8,202 to 9,514 feet (1,900 to 2,900 meters) respectively, will be extensively cored, and are estimated to be drilled and cased in approximately 60 days.


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