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 clarified press speculation regarding the selection of Hess Corporation as its preferred farm-in partner for its oil and gas exploration projects in the Northern Territory.
“Central Petroleum Limited has become aware of certain press speculation in which Hess Corporation is stated to be a preferred farm-in partner for the company.
Hess Corporation is a large internationally recognised oil and gas company with interests onshore Australia, however, the company currently has no preferred farmin partners.
Any farm-ins which the company may consider will take into consideration, among other things, the terms of the farm-in offered and the financial and other capabilities of the potential farminee.”