Central farms out certain Amadeus basin permits
Central Petroleum has entered into a farmout of various interests in certain Amadeus basin exploration tenements in Australia's Northern Territory to Peak Helium (Amadeus Basin), the company said on February 9.
Under the farmout deal, Central is free carried by Peak for two new sub-salt exploration wells, one at Mt Kitty and the other at either Magee or the nearby Mahler prospect. Combined with the planned Dukas exploration well, a total of three sub-salt exploration wells will now be prioritised for drilling in the southern Amadeus basin, Central said.
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Peak will earn a partial transfer of Central’s interests in three permits as follows: 31% in EP82, excluding Dingo Satellite Area (Central’s interest will change from 60% to 29%), 10% in EP112 (Central’s interest will change from 45% to 35%) and 6% in EP125 (Central’s interest will change from 30% to 24%).
Santos has confirmed that it has entered into farmout arrangements with Peak covering their interests in EP82, EP112 and EP125, as well as their interests in EP105, EP(A)111 and EP(A)124, Central said. Central also has interests in the latter three blocks but these are not included in Central’s farmout to Peak. There will be no change in Santos’ role as operator under the farmout arrangements, it added.