Central Petroleum has provided resource estimates for the three well sub-salt exploration program scheduled to commence drilling later this year / early 2024, targeting helium, naturally-occurring hydrogen and natural gas.
Key points
- Central’s share of gas resources across the three prospects are estimated to be in the order of:
- 44.8 billion cubic feet (bcf) of helium, including a prospective resource of 40.5 bcf at Dukas and Mahler (best estimate) and a 2C contingent resource of 4.3 bcf at Jacko Bore (Mt Kitty);
- 56.7 bcf of naturally-occurring hydrogen including a prospective resource of 51.4 bcf1 at Dukas and Mahler (best estimate) and a 2C contingent resource of 5.3 bcf at Jacko Bore (Mt Kitty); and
- 272 bcf of natural gas, including a prospective resource of 262.6 bcf1 at Dukas and Mahler (best estimate) and a 2C contingent resource of 9.4 bcf at Jacko Bore (Mt.Kitty).
- The exploration program will be operated by Santos, with Central being carried by Peak Helium for two of the new sub-salt exploration wells: one at Jacko Bore (Mt Kitty) (EP 125) (funded to a cap for Central’s share of $4.8m) and the other at the nearby Mahler prospect (EP 82) (funded to a cap for Central’s share of $5.8m).
'With completion of the Peak farmout, we now look forward to the most significant exploration drilling program ever undertaken by Central in the Amadeus Basin, including the opportunity to test a discovery at Mt Kitty that previously registered 9% helium, and penetration of sub-salt formations for the first time at Dukas and Mahler. Given the size of the prospective and contingent resources at each of these prospects, success could be transformative for Central, both in scale and potential to diversify into helium and hydrogen', said Leon Devaney, Central’s Managing Director/CEO.
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Source: Central Petroleum
