Santos has executed a binding term sheet to farm-down interests in various exploration permits (EP 82, EP 105, EP 112, EP 125, EP(A) 111 and EP(A) 124)1 within the Amadeus Basin to Peak Helium (Amadeus Basin) Pty Ltd. In exchange for a confidential consideration, Peak Helium would acquire certain non-operated interests in the permits. The transaction would provide funding for progressing the exploration program in the Amadeus Basin, including re-drilling of the Dukas prospect to test the sub-salt play. The transaction is subject to customary conditions and regulatory approvals.
From the Santos quarterly released today
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