The second part of the seismic acquisition programme will consist of the remaining seismic to be acquired to bring the total program to 1,300km (this total is estimated to cost around $12 million) with the exact layout of the second part's lines to be confirmed at the end of the first part. The acquisition program is planned to be completed by the end of March 2017. Upon completion of the seismic works in accordance with the farmout requirements, Santos will have the right to retain an increase in its participating interest from 25% to 40% for EPs 82, 105 and 112 (with EP 106 no longer applying due to voluntary relinquishment).
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About Central Petroleum Limited
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) is an oil and gas explorer and producer listed on the Australian Securities Exchange focused on supplying the domestic gas market. Central is advancing several separate projects across what is regarded as the biggest package of proven and prospective oil and gas acreage across central Australia. This spread of assets gives Central multiple options for growth and development. 88% of this land being gas prone has led to the Company's focus on becoming a major domestic gas producer.
About Santos Limited
Santos (ASX:STO) is one of the leading independent oil and gas producers in the Asia-Pacific region, supplying the energy needs of homes, businesses and major industries across Australia and Asia.
With its origins in the Cooper Basin, Santos has one of the largest exploration and production acreages in Australia and extensive infrastructure and is committed to supplying the domestic markets, unlocking resources and driving value and performance.
Underpinned by a portfolio of high-quality liquefied natural gas (LNG), pipeline gas and oil assets, Santos seeks to deliver long-term value to shareholders.
Santos' foundations are based on safe, sustainable operations and working together with our shareholders, host communities, governments and business partners.
Central Petroleum Limited