ASX:CTP has Gas, Helium and Hydrogen

[Sparty]

Central Petroleum Limited (ASX:CTP) has announced resource estimates for three sub-salt exploration wells targeting helium, hydrogen, and natural gas. The wells are scheduled to commence drilling later this year or early 2024.

The resource estimates for the three wells are as follows:

Helium: 44.8 billion cubic feet (bcf)
Naturally-occurring hydrogen: 56.7 bcf
Natural gas: 272 bcf
The exploration program will be operated by Santos, with Central being carried (i.e. funded) by Peak Helium for two of the new sub-salt exploration wells.

Leon Devaney, Central's Managing Director/CEO, said:

"With completion of the Peak farmout, we now look forward to the most significant exploration drilling program ever undertaken by Central in the Amadeus Basin, including the opportunity to test a discovery at Mt Kitty that previously registered 9% helium, and penetration of sub-salt formations for the first time at Dukas and Mahler. Given the size of the prospective and contingent resources at each of these prospects, success could be transformative for Central, both in scale and potential to diversify into helium and hydrogen."

The resource estimates for the three wells are significant and could make CTP a major player in the global helium and hydrogen markets.

Read more: https://www.listcorp.com/asx/ctp/cen...s-2862500.html