"The rush for acreage in the NT began almost a decade ago with Central Petroleum when it acquired vast areas over the Amadeus and Pedirka Basins.
This was based on a proudly counter-cyclical strategy targeting oil.
The recent oil discovery at Surprise in the Amadeus Basin has not translated into an acreage rush nearby because Central had already locked up all the prospective acreage.
Entrants will need to negotiate a joint venture if they want to share in the action."
CTP Price at posting:
52.5¢ Sentiment: None Disclosure: Held
