Update on EP 97 Farmin
Perth, Feb 29, 2012 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) ("Central") advises that it has agreed with Rawson Resources Limited ("Rawson") to combine all of Central's current EP 97 farmins of the Simpson, Bejah and Pellinor blocks into one farmin arrangement.
Central's farmin of the Dune Block (which Central is yet to earn an interest) has been removed from the previous farmin deal with Rawson. However, Central has the first right (but not the obligation) to match any bona fide offer which Rawson receives and wishes to accept relating to Rawson's farmout of the Dune Block.
About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
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