RE: Oil Prices15 May 2020 08:25
To drill a well in Australia looks round about $10 mil
From Central petroleum Rns 30/04/2020
EXPLORATION PROGRAMME
Central is well-advanced in planning for a major exploration programme in the Northern Territory’s Amadeus Basin, consisting of five high-graded drillable prospects and two appraisal tests. The exploration programme is estimated to have a total cost of up to $50 million and targets an aggregated best estimate (P50) prospective resource of up to 321 PJ of gas (205 PJ risked mean) and 24 mmbbl of oil (9.5 mmbbl risked mean)1.
Work to progress the exploration programme continued during the March quarter, finalising well designs and progressing the approvals processes required for exploration in the Northern Territory. Applications for Aboriginal Areas Protection Authority (AAPA) Certificates for the Dingo, Orange, Palm Valley-12 and Mamlambo exploration wells have been lodged.
Work on the Environmental Management Plans (EMPs) for NT Government (NTG) approval of the exploration wells continues to progress and will be submitted in May 2020 to begin the 3 month government approval process