PXA joins Central in the outback

CENTRAL Petroleum has farmed out a 15% stake in three prospect blocks in EP 97 in the Pedirka Basin, to Petroleum Exploration Australia, reducing its interests to 65%.
PXA joins Central in the outback PXA joins Central in the outback PXA joins Central in the outback PXA joins Central in the outback PXA joins Central in the outback

PXA will fund 22.5% of the costs of the recently completed Madigan seismic survey and the drilling of one well each in the Simpson, Bejah and Dune prospect blocks to secure its interests.

Central's wholly owned subsidiary Merlin Energy is earning an 80% participating interest and operatorship of the three blocks in the Northern Territory by funding the seismic and wells.

It has already contracted drilling contractor Hunt Oil to use its Rig 2 to kick off the drilling program in the Perdika Basin with Blamore-1 in EP 92, followed by one or two coal seam methane wells before moving on to the Simpson-1 well.

loader