Brisbane, Australia - Central Petroleum Ltd. (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) 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 Ltd. (Central) is a well-established, and emerging ASX-listed Australian oil and gas producer (ASX:CTP). In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
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Brisbane, Australia - Central Petroleum Ltd. (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) refers to its announcements regarding the Peak Helium farmout transaction.
