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Additional Information

Market:	ASX
Sector:	Oil and Gas Exploration and Production
EPIC:	CTP
Latest Price:	0.05 (-3.57% )
52-week High:	0.08
52-week Low:	0.04
Market Cap:	57.96M

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Central Petroleum Full Central Petroleum profile here

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 completes A$22.7M Renounceable Rights Issue

Tuesday, May 04, 2010

Central Petroleum (ASX: CTP), an oil and gas exploration and production company, has reported that a Renounceable Rights Issue (excluding the shortfall) was completed yesterday.

Cleared funds totalling $13,654,226 have been received from existing shareholders, including $280,232 for applications for an additional 3,736,424 shares from the 124,408,613 shortfall shares available.

A total of 182,056,345 new shares and 36,411,379 new options which have an exercise price of $0.16 and an expiry date of 31 March 2014, have been issued and were despatched to shareholders yesterday.

The shortfall of approximately 120 million new shares and approximately 24 million new options is expected to be completed today.

In addition, the company is to issue circa 60 million CTPO options to the underwriters. The securities will be issued and despatched to shareholders today. Funds received from the issue of the shortfall shares are circa $9.0 million.

Central has a full exploration program for 2010 focussed on its goal of re-commencing the seismic and coal seam gas drilling (CSG) programme and the spudding of the Ooraminna 2 gas well (2 TCFG UGIIP) by mid May 2010.

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