PERTH (miningweekly.com) – Oil and gas major Santos has informed fellow listed Central Petroleum that it would proceed with Stage 3 of the Southern Amadeus farm-in, after completing seismic works as part of the Stage 2 farm-in.
Following the Stage 3 investment, Santos’ share in the EP112 permit will increase to 70%.
Santos is expected to drill the Dukas prospect, starting in the first quarter of 2019, with Central Petroleum to be free-carried during the process.
Central Petroleum on Wednesday said that if successful, the Dukas prospect could contain multiple trillion cubic feet of gas. Two other wells in the Southern Amadeus basin have also demonstrated a hydrocarbon system exists.
Additionally, the presence of helium and hydrogen offered potential value add, Central Petroleum noted.
In the meantime, Santos has elected to maintain a 40% interest in the EP82, EP105 and EP106 permits, with no further farm-in work to be completed.