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Central Petroleum Limited ( (AU:CTP) ) has shared an announcement.
Central Petroleum Limited has entered into a conditional agreement to sell its interests in three Northern Territory sub-salt exploration permits to Georgina Energy Plc in exchange for a 25% equity interest in Georgina. This transaction positions Georgina as a significant player in helium exploration, with plans to drill the Mt. Kitty appraisal well by June 2027, while Central aims to distribute Georgina shares to its shareholders, enhancing their exposure to helium exploration opportunities.
More about Central Petroleum Limited
Central Petroleum Limited is an Australian company operating in the energy sector, focusing on exploration and production of oil and gas resources in central Australia.
Average Trading Volume: 360,382
Technical Sentiment Signal: Sell
Current Market Cap: A$47.42M
Find detailed analytics on CTP stock on TipRanks’ Stock Analysis page.