Central Petroleum (ASX: CTP) has been granted a trading halt by the ASX pending the release of details regarding a material capital raising, with the company's shares placed in pre-open.
The halt will last until the earlier of the announcement, or the open of trade on Tuesday 13 September.
About Central Petroleum
Central Petroleum is a junior exploration and production company with extensive granted and pending tenement acreage in Central Australia, totalling over 70 million acres, predominately in the Northern Territory, almost entirely 100% net owned.
Within this acreage large resources of oil, natural gas, helium and coal have been identified and/or inferred by independent geological assessment. These resources are located within four main geological structures; the Amadeus, Pedirka, South Georgina basins and the Lander Trough of the Wiso Basin.
Central Petroleum has identified a number of oil and gas prospects in the already-producing Amadeus Basin and in the Pedirka Basin which could be brought to market relatively quickly following further drilling to determine the full extent of the resources.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/19453/central-petroleum-in-pre-open-pending-material-capital-raising-announcement-19453.html
Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
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