New Zealand Oil and gas
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Amadeus Basin Update

Posted on 7 March 2022

The Operator of the Mereenie, Palm Valley and Dingo fields, Central Petroleum Ltd (Central) (ASX: CTP) has advised that it has updated its share of reserves for Mereenie, Palm Valley and Dingo. The update incorporates drilling and production results from the recent new drill and well recompletion program on Mereenie, as well as recent well performance across the fields. Please see their release available at https://centralpetroleum.com.au/investment/asx-announcements/.

New Zealand Oil & Gas (NZOG) are reviewing the reports and will incorporate any impact on NZOG’s reserves as part of our regular reporting process. This will also incorporate results from the Coiled Tubing campaign soon to commence at Mereenie and the upcoming drilling at Palm Valley and Dingo.

For clarity, a like for like comparison of Central’s stated reserves to NZOG’s position (including Cue share) is provided below to show the potential impact at this time. These new volumes are not adopted at this time given the relative size and the pending new information to be gained in all three of the fields: