🕐25.05.10 - 07:28 Uhr

CENTRAL PETROLEUM MAKES ADDITIONAL MINERAL APPLICATIONS IN PEDIRKA BASIN



Central Petroleum Limited ASX ANNOUNCEMENT 25 May 2010
CENTRAL PETROLEUM MAKES ADDITIONAL MINERAL APPLICATIONS IN PEDIRKA BASIN Central Petroleum Limited (ASX: "CTP", "Central" or "the Company") is pleased to announce that its wholly-owned subsidiary company, Merlin Coal Pty Ltd has made three new applications under the Mining Act of the Northern Territory, ELA application numbers 28095, 28096 and 28097, covering over 3,000 km2 in the little known northern part of the Pedirka Basin in central Australia.

Central holds a 100% interest in Merlin Coal Pty Ltd and is Operator.

There are no Joint Venture partners involved in Merlin Coal Pty Ltds granted exploration permits and applications. "Publically released results of the 2009-2010 coal seam gas (CSG) drilling programme within Centrals Petroleum Act permits in the Pedirka Basin have provided some really interesting results in terms of the thicknesses and disposition of coal seams encountered," said John Heugh, Centrals Managing Director today. "The Company has received expressions of interest in the potential coal exploration targets it covers under the Mining Act in the Pedirka Basin and so it is logical that we should attempt to consolidate our position here".
The Company has begun to investigate potential for Underground Coal Gasification (UCG), and Coal to Liquids (CTL), the latter of which may involve mining coal either by underground and/or open-cut methods, gasifying the coal at the surface to produce "syngas" (a mix of carbon monoxide and hydrogen) and processing the syngas via GTL (gas to liquids) technology to potentially produce a range of liquid petroleum products including diesel and jet fuel.

Coal beneficiation studies are also planned which are aimed at evaluating the potential for the economic transport of mined coal to other destinations for further useage.

Previous independent reports have estimated the total tonnage of coal above 1,000m as being 635 billion tonnes ("low" estimate) to 865 billion tonnes ("high" estimate) within Centrals wholly owned subsidiary, Merlin Coal Pty Ltds mineral leases and 1,110 billion tonnes ("low" estimate) to 1,385 billion tonnes ("high" estimate) above 1,000m in the same category in Centrals petroleum leases in the same area in the JORC "Exploration Target" category.

(Mulready and Maynard June 2009).

The coal intersected to date is generally sub-bituminous in grade, and as such would probably be limited to gasification or thermal coal applications.

Note : the potential quantity and grade of the coal is conceptual in nature, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. To download a copy of the ASX Announcement, including a location map, click here: http://esp.gewru.com/download/files/12414/1171771/20100525%20-%20CENTRAL%20MAKES%20ADDITIONAL%20MINERAL%20APPLICATIONS.pdf For further information contact: John Heugh Managing Director Central Petroleum Limited T: +61 (8) 9474 1444 M: +61 (0)427 107 690 Felicity Nuttall Professional Public Relations T: +61 (8) 9388 0944
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