simpson 1

CTP is about to reach target depth in Simpson 1 which is in a tenement owned by RAW. CTP pays for 100km of seismic (100%) and all the exploration costs. Rawson gets to keep 20% interest in the prospect blocks. There are 3 very prospective blocks. Guess people are waiting to see if oil and gas are found.

Can't understand the share price on this one. Very tight register (approx 463 shareholders).

This is the agreement.

Rawson Resources Farmin Agreement Formalised
Central Petroleum Limited’s wholly owned subsidiary, Merlin Energy Pty Ltd, (Merlin) has formalized an agreement with Rawson Resources Limited (Rawson) to farmin to the Simpson, Bejah and Dune prospect blocks in the Pedirka Basin, a recognised prospective province for oil exploration with many similarities to the Cooper Basin.
The terms of the farmin agreement executed on the 26th October 2007 call for Merlin to complete and fund at the 100% level, 100 line km of seismic anywhere on Exploration Permit 97 and to drill one well in each of the prospect blocks to retain an 80% participating interest in the respective prospect blocks. The seismic and the first well are mandatory but Merlin has the option to cease expenditure at any time after that. The 80% participating interest was assigned with effect from the execution of the Agreement but shall be returned to Rawson if the programme does not proceed on each of the prospect blocks severally.

I don't know how to post a map :(
You can have a look on the website, and click on each tenement.
http://www.rawsonresources.com/profile.htm