Central Petroleum extends closing date of A$5.5 million underwritten SPP
Central Petroleum (ASX: CTP) has extended the closing date of the A$5.5 million underwritten share purchase plan (SPP) announced on 15th September 2011, from 20 October 2011 to 28 November 2011.
The SPP will be underwritten by Patersons Securities Limited.
Central's planned re-entry and completion of drilling operations of the Surprise ST-1 well are scheduled shortly and the company considers the results of the drilling should follow the SPP completion date.
The company is getting ready to commence a liquids focussed drilling program of up to three wells in the largely under explored central Australia.
The wells include Surprise-1 re-entry, Madigan or Simpson East and Mt Kitty, with the company to use Hunt Energy and Mineral Co. Australia Pty Ltd for the drilling.
The drilling rig and associated equipment is planned to commence mobilising to the site within a week, and will be ready for the re-entry of Surprise-1 in the first week in November.
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