georgina basin

CTP into trading halt this morning pending announcement of a potential farmout agreement.

The AFR had this to say:
"Elsewhere, Central Petroleum is on the verge of its first farm-out deal under new CEO Richard Cottee. The deal is thought to be priced at $12 to $15 per acre of shale gas exploration territory, well above Central's trading price of about $2 per acre.

Santos is believed to be a top candidate although internationals such as Statoil and Hess were also among those in the data room."

Now, CTP has a few permits and it isn't yet clear which permits the potential farm-out is in relation to, but their Georgina Basin permits straddle either side of the BUL permits.

Take a look at pg 8 here for the CTP permits:
http://www.centralpetroleum.com.au/files/downloads/11.04.11_sthn._georgina_unconventional_resources_966139.pdf

And pg2 here for the BUL permits:
http://www.blueenergy.com.au/_dbase_upl/Gazettal%20win%20May2012%20(Final%200).pdf

We're smack in the middle...

Might explain the bounce today?