Central Makes Final $10 Million Mereenie Acquisition Payment
Brisbane, June 2, 2016 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) today announced that the final payment of $10 million for Central's 50 percent interest in the Mereenie Oil and Gas Field was made to Santos Limited (ASX:STO).
Central is the Operator of the Mereenie Oil and Gas Field as well as the Operator of the Palm Valley and Dingo Gas Fields in which it has 100 percent ownership. All three fields are located in the Amadeus Basin in the Northern Territory and have significant gas reserves which are being made available to the Northern Territory and East Coast markets.
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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