Santos in stage 3 Southern Amadeus Farmout in NT

Company News

by Rachael Jones

Santos (ASX:STO) is proceeding to Stage 3 of the Southern Amadeus Farmout in the Northern Territory with oil and gas explorer Central Petroleum (ASX:CTP).

Santos is drilling a well in EP112 to earn a 70 per cent participating interest in that permit. This comes after Central Petroleum (ASX:CTP) completed seismic works as part of the Stage 2 farmout.

It is expected that Santos will drill the Dukas Prospect in EP112 which will be a free carry for Central under the farmout.

Drilling on the Dukas Prospect is anticipated in the first quarter of 2019.

Shares in Santos (ASX:STO) are flat at $6.67
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.