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 advised that the Supreme Court of Western Australia has dismissed former managing director John Heugh’s injunction application.
Heugh was ordered by the court to pay the company’s costs of the application.
The injunction was aimed at preventing Central from calling a general meeting to consider a motion to remove Heugh as a director of the company and from moving such a motion pending his legal action disputing the termination of his employment.