SYDNEY, AUSTRALIA: Central Petroleum Limited (ASX: CTP) notified the Palm Valley 12 (PV12) well has been tied-in and commenced flow testing on 28 November 2022. After a interval of ramp-up the well flowed at a stable, wellhead skid-limited rate of ~10TJ which exceeded pre-drill expectations.
Palm Valley field capability is anticipated to approach the utmost plant capability of 15 TJ/d in midDecember as soon as a scheduled compressor overhaul is completed.
The added Palm Valley manufacturing will allow for new agency and spot gross sales into what continues to be strong Northern Territory and east coast gas markets.
“Great to see charges higher than initially hoped,” says Andrew Jefferies, CEO, New Zealand Oil & Gas, “Hooked up and producing to sales, safely and on time prepared to cook these Christmas turkeys. The existing Parcoota 1 manufacturing interval continues to ship the goods, and the three way partnership will mature plans to take benefit of this.”
The PV12 well was drilled and connected under a three way partnership between Central (50% interest), New Zealand Oil & Gas Limited (ASX: NZO) (35% interest) and Cue Energy Resources Limited (ASX: CUE) (15% interest).