According to Macroaxis, the company has return on total
asset (ROA) of (23.39) % which means that it has lost $23.39
on every $100 spent on asset. This is way below average.
Similarly, it shows return on equity (ROE) of (29.56) %
meaning that it
generated substantial loss on money invested by
The Company’s operating portfolio includes prospective
acreage in Central Australia, including the Pedirka and
The Pedirka Basin has number of prospects, such as the Avalon and
The Amadeus Basin is a proven hydrocarbon province, with the
Mereenie (oil and gas) and the Palm Valley (gas) fields.
As of June 30, 2012, the Company identified four prospects
considered for drilling in the Amadeus Basin.
In June 2013, Central Petroleum Ltd disposed its coal assets.
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CTP.AX Central Petroleum 5 year chart retrieved on 18
France's Total makes first venture into Australian shale
Nov 6, 2012 - (Reuters)
- France's Total (TOTF.PA) has made its first move into Australian shale gas,
announcing on Tuesday that it has signed a farm-in agreement with Central
Petroleum (CTP.AX) for shale gas exploration permits in central Australia.
The Australian shale gas industry is in its infancy, with the first commercial
gas produced earlier this year by Australia's Santos (STO.AX).
But there are hopes in the energy industry that shale gas will eventually become
part of Australia's booming liquefied natural gas (LNG) export industry.
Central Petroleum Limited (ASX:CTP) 11.12.12 Surprise-1
Update and SPP Extension
Dec 12, 2011 - Perth, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP)
('Central' or the 'Company'), has pleasure in announcing that interpretation of
electric logs, cuttings sampling, gas chromatography and coring to date has
indicated a possible gross oil column in the Lower Stairway Sandstone of up to
c.17m, with permeabilities ranging up to 420 Millidarcys measured in a 9m cored
Smaller hydrocarbon zones up to c.1m in the Middle Stairway Sandstone and
up to c.2m in the Top Pacoota Sandstone have also been interpreted.
The presence of hydrocarbons and elevated organic material in sections of the
Horn Valley Siltstone has also been interpreted and samples taken will be
studied for unconventional shale oil/gas potential.
Only the hydrocarbon zones in the Lower Stairway and the Middle Stairway are
thought to have flow potential using conventional production techniques (ie
not using hydraulic fracturing).
It is planned to complete a seismic check
shot survey over the section from surface to the Total Depth reached to date of
2,732m RKB before running 7 inch casing. It is then planned to mill a window in
the casing above the Middle Stairway Sandstone before directionally drilling a 6
inch sidetrack to intersect and drill a horizontal wellbore of up to c.700m
through the interpreted Lower Stairway oil column.
The angle build and
horizontal wellbore sections will utilise a gamma ray tool for geo steering, a
modern technique commonly used to ensure accurate placement of the well bore
within the potential production reservoir.
Underbalanced drilling techniques to
minimise formation damage and maximize production potential are planned together
with a 'barefoot' (uncased open hole) for completion, testing and possible
Mr Dalton Hallgren, the Company's recently appointed Chief Operating Officer and
well qualified directional and horizontal Drilling Engineer, will take personal
charge at the well site of the horizontal drilling and testing programme
expected to commence by late this week following the setting of casing.
'The results thus far from the drilling and logging of Surprise-1 are such that
a horizontal wellbore test of the Lower Stairway Sandstone is considered
appropriate' said Mr John Heugh, the Managing Director this morning.
oil has yet to be proved but the Company is optimistic and believes that a
horizontal wellbore offers the best possible chance for oil flow to surface by
accessing a much longer sandstone section than is possible via a vertical
The Surprise ST-1 well has reached a Total Depth of 2,732m RKB within the
Pacoota Sandstone in 8.5 inch hole size. These preliminary results are all
subject to review and revision as more data is acquired.
Further updates will be
released as significant results come to hand.
The revised programme is subject
to the approval of the Northern Territory Department of Resources.
Given the timing of these operations, a further extension of the Share Purchase
Plan is being considered. Any conclusions will be the subject of a further
Return mud-stream Surprise-1 showing free gas breakout and oil slicks in 8.9 ppg/1.07
SG mud (slightly overweight)-viewed on circulation after electric logging runs
before planned check shot survey. Gas composition C1/C2/C4/C5 percentages 41
/24/ 20/ 11/ 4 respectively.
Note : No conclusions can be definitively made on the capability of the well to
flow oil to surface from these indications but they are regarded as positive
indicators rather than negative indicators.
About Central Petroleum Limited:
Central Petroleum (ASX:CTP) is an ASX listed junior exploration and production
company operating what is regarded as the biggest package of prospective acreage
Central Petroleum Limited