Central Petroleum (ASX: CTP) holds an extensive package of prospective acreage of over 270,000 km2 in central Australia, which is predominately in the Pedirka Basin, along with 25,000 km2 in the Southern Georgina Basin.
Apart from conventional gas potential, the company has had independent estimates of over 10,000 trillion cubic feet in UCG "syngas" prospective recoverable resources.
Central Petroleum (ASX: CTP) has been granted a trading halt by the ASX ahead of an announcement regarding changes to the company’s key management personnel.
The company has not given any indication of the reason for the changes.
Shares in Central will remain in pre open until the announcement is released to the market or the commencement of normal trading on Monday March 26, 2012.