Amadeus Basin Farmout Update
Brisbane, Nov 30, 2022 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (C9J:FRA) (CNPTF:OTCMKTS) refers to its announcements regarding the Peak Helium farmout transaction.
The conditions precedent satisfaction date for the Peak Helium farmout is currently 30 November 2022. Following Peak Helium's advice that the assessment of stamp duty has been completed, it has been progressing various approvals with the Northern Territory Government in order to facilitate completion of the remaining conditions precedent. Taking into account the approaching holiday season, Peak Helium have requested an extension to 31 January 2023 in order to satisfy these remaining conditions precedent. Central has agreed to this extension.
We understand Santos Limited (ASX:STO) have also provided Peak Helium with a similar conditions precedent extension for their farmout arrangements.
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.
Central Petroleum Limited