Central Petroleum Announces Joint Venture Approvals for Santos
formally chosen by the joint venture over the Magee prospect), the Dukas prospect (EP112) and the Mt Kitty prospect (EP125). These wells have been programmed to be drilled under the Peak Helium farmout transaction
announced on 9 February 2022, where Central will be free carried (i.e. funded) effective 1 October 2021 by Peak Helium for the Mahler and Mt Kitty wells (capped at $20 million gross cost per well). Satisfaction of conditions precedent for the Peak Helium farmout agreement are progressing towards completion. Upon completion, Peak Helium will reimburse Central for joint venture costs incurred by Central from 1 October 2021 for the free carried portion of the wells and Peak Helium's participating interest share of well costs.