Central Petroleum Limited (ASX:CTP) (“Company”or “Central”) today announced it has agreed to acquire a 50% interest in the Mereenie Oil & Gas Field from Santos Limited and assume Operatorship of the field in the Northern Territory’s Amadeus Basin.
Under the agreement Central will pay $45 million in cash to Santos, structured as $35 million on financial closure of the deal and the balance of $10 million to be paid in June 2016. funded by Maquarie Loan Extention
Ann: CENTRAL ACQUIRES 50% OF MEREENIE OIL & GAS FIELD FROM SANTOS, page-2
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