Dukas Update
Brisbane, Aug 2, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (C9J:FRA) (CNPTF:OTCMKTS) advises that following its ASX Announcement dated 16 July 2020, Santos QNT Pty Ltd ("Santos") has elected not to provide the carry referred to in that announcement and accordingly Santos is now obliged to transfer a 15% interest in EP112 to Central's wholly owned subsidiary Frontier Oil & Gas Pty Ltd ("Frontier").
As a result, Frontier's interest in EP112 will increase from 30% to 45% and Santos' interest in EP112 will decrease from 70% to 55%.
Central will update the market as to the EP112 Joint Venture's plans in respect of the Dukas prospect in due course.
About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is an established ASX-listed Australian oil and gas producer (ASX:CTP) with exploration and appraisal permits in the Northern Territory (NT). Central has grown to become the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and wider Australian east coast market.
Central is seeking to become a major domestic energy supplier, in addition to helium and naturally occurring hydrogen, with exploration, appraisal and development plans across 169,112 km2 of tenements the NT, including some of Australia's largest known onshore conventional gas prospects in the Amadeus Basin.
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