Project Range

Tenement Information

Tenement Area
(km²)
Location Operator CTP Consolidation Entity Other JV Participants
Registered
Interest
(%)
Beneficial
Interest
(%)
Participant
Name
Beneficial
Interest
(%)
ATP 2031 77 Surat Basin QLD Central 50 50 Incitec 50

Central’s wholly-owned subsidiary Central Petroleum Eastern Pty Ltd was awarded ATP2031 in August 2018 for a term of 12 years.

Joint Venture

Incitec Pivot Queensland Gas Pty Ltd (a wholly owned subsidiary of Incitec Pivot Limited) gained a 50% interest in the tenement by funding an exploration programme through 2019.

Description & Geology

The Range Gas Project covers an area of 77km² and contains 270 PJ of 2C contingent gas resources (135 PJ net to Central) surrounded by major coal seam gas (CSG) developments and pipeline infrastructure.

Exploration results from four wells drilled in 2019 confirmed 30m of average net coal thickness and permeability in line with, or better than expectations, indicating that this is a highly prospective CSG block:

    • deep enough for gas content
    • shallow enough for permeability
    • three target production zones
    • enhanced by a structural nose (folds) evident through the block

The 270 PJ of 2C contingent gas resources are the highest sub-class of contingent resources – “Development Pending”. Central has a high confidence of converting these 2C resources to 2P reserves as remaining requirements all relate to traditional FID activities:

    • development plans
    • gas supply agreements
    • access to infrastructure
    • commitment to develop

 

In addition, there are a number of favourable commercial and technical factors supporting a successful outcome:

    • adjacent to established CSG fields
    • CSG development and operations are well-understood in this area
    • access to nearby pipeline infrastructure
    • suitable for lower-cost, unfracked vertical wells

Appraisal & Development Status

Central is targeting a final investment decision (FID) in early 2021 and is undertaking necessary activities for front-end engineering and design, regulatory approvals, commercial agreements and financing.

A three well appraisal pilot is planned for CY2020 to gather additional data for the field development.

Gas production from the Range Gas Project is reserved for domestic use, and Central is targeting 2022 for the first gas supplies to east coast gas customers.

Media Releases

HEADLINE DATE
PROJECT RANGE – 2C RESOURCES EXCEED HIGHSIDE EXPECTATIONS 21.08.2019
DRILLING UPDATE – EXCITING RESULTS FROM PROJECT RANGE 09.08.2019
DRILLING UPDATE – PROJECT RANGE 2 SPUDS AND RANGE 3 RESULTS 31.07.2019
DRILLING UPDATE – PROJECT RANGE 3 SPUDS AND RANGE 5 RESULTS 23.07.2019
DRILLING UPDATE – PROJECT RANGE 5 SPUDS AND RANGE 4 RESULTS 12.07.2019
DRILLING UPDATE – RANGE 4 SPUDS 01.07.2019
DRILLING UPDATE – PROJECT RANGE DRILLING CONTRACT EXECUTED 21.06.2019
CENTRAL PETROLEUM TO COMMENCE EAST COAST GAS SALES 03.01.2019
CENTRAL PETROLEUM ON THRESHOLD OF EAST COAST GAS SALES 06.12.2019
GRANT OF ATP 2031 29.08.2018
IPL GAS SALES AGREEMENT AND QUEENSLAND ACREAGE FARMIN 25.06.2018
IPL ASX RELEASE: QUEENSLAND GOVERNMENT GAS TENDER UPDATE 01.03.2018
CENTRAL AWARDED PREFERRED TENDERER FOR QUEENSLAND PERMIT 01.03.2018