Here's the first announcement (off ASX):Central Petroleum to...

Here's the first announcement (off ASX):

Central Petroleum to Spud First Week December Phase One Exploration

"Central Petroleum Limited (ASX “CTP”-Central) intends spudding its first well and commencing seismic line clearing by the first week of December 2009 in its $32 million 2009 Phase One exploration programme. The relevant Joint Venture participants have approved or have been deemed to approve the programme, are actively engaged in productive ongoing technical discussion and will shortly be cash called for their respective share of costs.
The exploration programme consists of 5 fully cored Coal Seam Gas (CSG) wells in the Pedirka Basin, the Ooraminna 2 gas well, and 1,380 km of state of the art 2D seismic across various permits and prospects in the Amadeus and Pedirka Basins. Central has not reached a negotiated agreement with Petroleum Exploration Australia Limited (PXA) regarding the formal entry into the Broadacre Joint Venture of PXA and Central by Red Sky Energy (NT) Pty Ltd (ROG) and so Central will refer the dispute to the formal arbitration processes outlined in the Joint Operating Agreement (JOA) and the Farmout Agreement (FOA) with PXA, as amended, executed on 15th February 2008. The arbitrator's award (or decision) will be final and binding on both of Central
and PXA and Central looks forward to resolving the issue as soon as possible but meanwhile continues to co-operate fully and productively with its various Joint Venture participants including PXA on the execution of the Phase One 2009 exploration programme. "