Central Petroleum in farmout talks

Australian explorer Central Petroleum is in talks with Singapore’s Peak Helium for a farmout covering a portion of its interest in certain Amadeus basin exploration permits, including EP112, it said on October 25.

Any farmout to Peak Helium would retain Santos as operator and be subject to customary conditions precedent such as joint venture and regulatory approvals, as well as required due diligence, it added.

Peak Helium is a private company with a focus on exploring, developing and commercialising discoveries of helium. It currently holds a 100% interest in EP134 which is adjacent to EP112.

Central said it has been working with Santos to advance a sub-salt drilling programme at EP112, also called Dukas, and is currently considering a proposed EP112 joint venture budget targeting start of drilling at Dukas in Q1 2023 in light of the mid-December 2022 permit well commitment.

The drilling of Dukas is subject to a minimum permit commitment and not dependent on any farmout arrangements being completed, it added.