Amadeus Basin Farmout Update
Brisbane, Oct 12, 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 12 October 2022. Peak Helium have recently advised Central that the assessment of stamp duty for the farmout agreement has now been finalised with the Northern Territory Government. This will facilitate completion of the remaining conditions precedent. Peak Helium have accordingly requested an extension to 30 November 2022 to satisfy these remaining conditions precedent and the parties have agreed to this extension. We understand Santos 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 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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