Central Petroleum Limited Santos Commences Seismic Programme
30.11.2016 | ABN Newswire
Brisbane - Central Petroleum Ltd. (ASX:CTP) (OTCMKTS:CPTLF) ("Company" or "Central") announces that Santos (ASX:STO) has commenced the first part of its seismic acquisition programme by acquiring over 1,000km of 2D seismic as part of fulfilling the Southern Amadeus Stage 2 farmout obligation of 1,300km. The aim of the first part of the programme is to mature the Dukas and Mahler drill targets being prospective for natural gas and helium and gather data for the Rossini lead, each detailed on the map in the link below.The second part of the seismic acquisition programme will consist of the remaining seismic to be acquired to bring the total program to 1,300km (this total is estimated to cost around $12 million) with the exact layout of the second part's lines to be confirmed at the end of the first part. The acquisition program is planned to be completed by the end of March 2017. Upon completion of the seismic works in accordance with the farmout requirements, Santos will have the right to retain an increase in its participating interest from 25% to 40% for EPs 82, 105 and 112 (with EP 106 no longer applying due to voluntary relinquishment).
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About Central Petroleum Limited:
Central Petroleum Ltd. (ASX:CTP) (OTCMKTS:CPTLF) is an oil and gas explorer and producer listed on the Australian Securities Exchange focused on supplying the domestic gas market. Central is advancing several separate projects across what is regarded as the biggest package of proven and prospective oil and gas acreage across central Australia. This spread of assets gives Central multiple options for growth and development. 88% of this land being gas prone has led to the Company's focus on becoming a major domestic gas producer.
About Santos Limited:
Gas and petroleum exploration and the production, treatment and marketing of natural gas, crude oil, condensate, naphtha and liquid petroleum gas; transportation by pipeline of crude oil.
Source: Central Petroleum Ltd., Santos Ltd.
Contact:
Central Petroleum Ltd.
T: +61-7-3181-3800
F: +61-7-3181-3855
E: info@centralpetroleum.com.au
www.centralpetroleum.com.au
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