Central Petroleum (ASX: CTP) has been granted a trading halt by the ASX pending the release of a proposed capital raising announcement, with the company's shares placed in pre-open.
Central Petroleum has not yet indicated where the potential capital injection will be allocated, but the company is in a very interesting position and earlier in the week announced some positive news for Surprise 1.
An engineering report by RPS Energy indicates that the Surprise-1 Re-entry H well, in the Amadeus Basin, could access stock tank oil initially in place (STOIIP) of between 0.5 and 2 million barrels in an area proximal to the well.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 3 February.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/24717/central-petroleum-in-pre-open-pending-capital-raising-announcement-24717.html
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