Central Petroleum has signed a letter of intent with Central and Australian Drilling Services Pty Ltd pursuant to which Central intends to contract ADS's Rig 6 for the planned drilling of up to three wells of Surprise-1 to commence in mid-September in 2011.

The three planned wells are the re-entry and testing of Surprise-1 in the Amadeus Basin for oil potential in both conventional and unconventional horizons, followed by the drilling of the 4 Billion barrel Madigan prospect (P50 UOIIP) in the Pedirka Basin and the 2 TCFG Mt Kitty prospect (P50 UGIIP). The Mt Kitty prospect is anticipated to host condensate and helium, a valuable gas originally discovered in the sub-salt Magee propect in the Amadeus Basin in 1992 (Magee-1).

Tags: Central Petroleum Limited