Central Petroleum Ltd (ASX Code: CTP) (“Central”) is pleased to announce that a Letter of Intent has been signed by Central and Australian Drilling Services Pty Ltd (“ADS”) pursuant to which Central intends to contract ADS’s Rig 6 (subject to satisfaction of certain conditions precedent, including, but not limited to, finalisation of rates and contract terms and conditions) for the planned drilling of up to three wells to commence in mid-September 2011.
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