Santos Increases Its Interest in EP(A)111 and EP(A)124
Brisbane, May 3, 2017 AEST (ABN Newswire) - Central Petroleum Limited's (
ASX:CTP) (CPTLF:OTCMKTS) ("Central" or "Company") joint venture partner, Santos QNT Pty Ltd ("Santos"), has exercised its option to acquire a 50% participating interest in and be appointed operator of EP(A)111 and EP(A)124. Santos' option to acquire this interest was granted as part of Central's acquisition of a 50% interest in the Mereenie Oil & Gas Field announced to the ASX on 4 June 2015.
The EP(A)s are located in the Southern Amadeus Basin and adjacent to existing Santos operated areas in joint venture with Central. Central will retain a 50% participating interest in these EP(A)s.
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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