Central Petroleum completes Amadeus basin farmout

Central Petroleum Ltd., Brisbane, completed its farmout of interests in three Amadeus basin permits, onshore Northern Territory, to Peak Helium, Singapore.

Central also confirmed that Peak has completed its farmin arrangements with the other Amadeus JV partner, Santos Ltd.

Post farm-out interests in EP 82, which contains the Mahler prospect, are Central 29%, Peak 51%, and Santos 20%.

In EP 112, which contains the Dukas prospect, Central holds 35% interest. Peak holds 35% and Santos holds 30%.

In EP125, which contains the Mt Kitty/Jacko Bore propspect, Central holds 24% interest while Peak holds 56%, and Santos holds 20%.

Under the farm-out deal, Central will be free carried by Peak Helium for two new sub-salt exploration wells—one at Jacko Bore, the other at Mahler—capped at $20 million (Aus.) gross/well.

Santos remains operator and drilling is expected to begin towards end-2023 or early 2024.

The assets are prospective for helium, hydrogen, and hydrocarbons (natural gas).

Peak Helium holds 100% interest in EP134 south of the farm-in areas.