Joint Venture

In October 2012, Central and Santos entered into a three-stage farm-in agreement.

Stage one was comprised of 1,586 km of 2D seismic in the Southern Amadeus area, 386 km 2D seismic in EP 115NMB (North Mereenie Block), and drilling of Mt Kitty 1. These activities concluded in July 2014 with Santos earning 25% in EP82, EP105, EP112 and 70% in EP125. Santos withdrew from the EP115NMB, effective January 2020.

Stage two comprised a further 1,337 km of 2D seismic. These activities concluded in October 2018 with Santos earning an additional 15% (to 40%) in EP82, EP105, EP112 and retained 70% in EP125.

Stage three comprised the drilling of Dukas 1 in EP112 with Santos earning an additional 15% (to 55%) in EP112 and retaining 40% in EP82 and EP105 and 70% in EP125. The Dukas well was drilled in 2019 but was suspended after encountering hydrocarbon-bearing gas from an overpressured zone close to the primary target.

Peak Helium (Amadeus Basin) Pty Ltd agreed separately with Santos and Central in late 2021/early 2022 respectively to farmin to several tenements by free-carrying the costs for a number of new exploration wells targeting natural gas, helium and hydrogen.

Peak will fund Central’s costs for two major exploration wells targeting sub-salt structures where previous drilling has confirmed the presence of hydrocarbons, helium and hydrogen. The wells are planned to be drilled in 2023.