08:25 AEST Oct 30, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.
Adelaide, Australia (ABN Newswire) - Central Petroleum Ltd (ASX:CTP) advises that it has settled the arbitration proceedings with Century Energy Services Pty Ltd and MB Century Pty Ltd (jointly Century) whereby Century will pay Central the sum of AUD$1,000,000 plus interest (payment due by no later than 4 January 2013) plus agreed or assessed party/party legal costs of and incidental to the arbitration proceedings (payment due within 21 days of the costs being agreed or assessed (as the case may be), or by no later than 4 January 2013, whichever is the later).
About Central Petroleum Limited:
Central Petroleum (ASX:CTP) is an ASX listed junior exploration and production company operating what is regarded as the biggest package of prospective acreage in Australia.
Source:
Central Petroleum Limited
Contact:
Media contact
Martin Debelle at Citadel
+61 2 9290 3033
Mobile +61 (0) 409 911 189
