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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 OMB:3235-0116 Exp:31-March-2011 CONTINENTAL ENERGY CORPORATION (Translation of registrant's name into English) 14001 Dallas Parkway, Suite 1200, Dallas, Texas 75240 (Address of registrants principal executive offices) For the month of: March 2009 Commission File No.: 0-17863 Under cover of this page and forming a part of this Form-6K filing please find attached the following documents: All of the above listed documents have also been filed separately by the registrant electronically on SEDAR, the "System for Electronic Archiving and Retrieval", in compliance with Canadian British Columbia Securities Commission regulations in the registrants home jurisdiction. The listed documents are available for public review and download in Adobe Acrobat® PDF file format from SEDARs internet website, www.sedar.com. i - Indicate by check mark whether the registrant files annual reports under cover of FORM 20-F X or Form 40-F . ii - Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by: Regulation S-T Rule 101(b)(1) ___ or Regulation S-T Rule 101(b)(7) ___ . Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders. Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrants home country), or under the rules of the home country exchange on which the registrants securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrants security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. Iii Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934; Yes or No X . If Yes is marked, the file number assigned to the registrant in connection with Rule 12g3-2(b) is . SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CONTINENTAL ENERGY CORPORATION Date: 23 April 2009 (Registrant) "Richard L. McAdoo" By: _____________________________ Richard L. McAdoo, President and Chief Executive Officer
Exhibit 99.1
PRESS RELEASE WWW.CONTINENTALENERGY.COM OTC-BB: CPPXF |
Source: Continental Energy Corporation
Continental Energy Firms Up Bengara-II Block 2009 Work Plans
JAKARTA March 31, 2009 - Continental Energy Corporation (OTCBB: CPPXF) today announced that it has received approval from the Indonesian government for an extension of additional time under the Bengara-II PSC until 4 December 2011 to more fully appraise, assess, and justify the economic feasibility of commercial development of the Bengara-II Block, onshore Kalimantan, Indonesia. The approval follows an earlier one-year extension through 2009, and was granted in response to a request by Continental's 18% owned subsidiary Continental-GeoPetro (Bengara-II) Ltd. (CGB2), to appraise promising oil indications on and adjacent to the Seberaba prospect revealed in a 2007 drilling program, as well as conduct appraisal work on the Makapan gas/condensate discovery on the Bengara-II Block.
CGB2 has also submitted, to the Indonesia government, a work program and budget for 2009 designed to provide needed seismic definition of the Makapan structure and the Seberaba structure with the objective of enabling completion of a plan of development ("POD") for either or both projects. At any time that CGB2 determines commercial development of either Makapan or Seberaba is justified, CGB2 may submit a POD for the first oil or gas field in the block. Upon approval of such POD by government authorities then the Bengara-II Block will be held for its full 30-year term through 4 December 2027.
CGB2's 2009 work plans call for conducting a total of 120 square kilometers of 3D seismic and 844 line kilometers of 2D seismic at an estimated acquisition cost of US$ 28,500,000. The primary objective of this seismic acquisition work program is to delineate and assess both the Seberaba and Makapan structures. A portion of the 2D program is intended to provide additional definition of other exploration prospects in the Bengara II Block, including the Galiadap structure underneath the "oil lake" seep in the southern region.
A portion of both the 3D seismic program and the 2D program shall be conducted in the logistically difficult and higher cost marine/terrestrial "transition zone" between the Makapan structure's shallow marine offshore setting and the onshore setting of the Seberaba structure. The northeastern and eastern portions of the Bengara-II block are located offshore in the Sulawesi Sea and the Bulungan River delta.
The Seberaba structure include areas surrounding the Seberaba-1 and 3 wells which both encountered shows and tested oil during CGB2's 2007 drilling program. Conclusive testing of both wells was hampered by mechanical problems and formation damage.
The Makapan structure was drilled in 1988 and tested 19.5 million cubic feet per day of gas together with 602 barrels per day of condensate on a 7/8 choke with 1,215 psi wellhead flowing pressure and 2,371 psi bottom hole flowing pressure from a 12.5-meter perforation interval across an 11-meter thick pay sand at a depth of 1,900 meters.
CGB2 is eyeing a joint development of Makapan gas with Seberaba oil to achieve economies of scale and provide a gas source for fuel, pressure maintenance, and artificial lift of oil. CGB2 expects to commence the 2009 seismic program in mid-year and complete by early 2010. Appraisal drilling is expected to commence in 2010 after results of the 2009 seismic are evaluated.
Under the terms of its 2006 farm out and shareholders agreement with CNPC (Hong Kong) Ltd., Continental is carried and is not obliged to provide its 18% share of the costs of the 2009 work program expenditures which are to be arranged or provided by CGB2 independently or by CNPC (Hong Kong) Ltd.
On behalf of the Company,
Richard L. McAdoo
Chairman & CEO
About Continental Energy Corporation:
Continental Energy Corporation is a small oil and gas exploration company, focused entirely on making a major oil or gas discovery in Indonesia. For further information, please visit our web site at www.continentalenergy.com.
No securities regulatory authority has either approved or disapproved the contents of this news release.
Certain matters discussed within this press release may be forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Although Continental believes the expectations reflected in such forward-looking statements including reserves estimates, production forecasts, feasibility reports and economic evaluations are based on reasonable expectations and assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, oil and gas prices, drilling program results, regulatory changes, political risk, terrorism, changes in local or national economic conditions and other risks detailed from time to time in Continental's periodic filings with the US Securities Exchange Commission.
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