Surprise Oil Development in Northern Territory Gets Federal Approval

Central Petroleum Ltd. (Company), a junior exploration firm, indicated Wednesday that the Federal Minister for Indigenous Affairs has today approved the agreement reached between the Company and the Central Land Council on behalf of the Traditional Owners, reached Dec. 11, 2013 on development of the Surprise discovery in Amadeus Basin, Northern Territory, Australia. This together with the letter of no objection sent to the Northern Territory Government clears the last major hurdle required to the issuance of the Production License. The Company is presently seeking guidance from the Northern Territory as to the time required to process the application before the Production License will be actually issued but is unaware as to any impediment to it being granted expeditiously.

All necessary equipment to work-over Surprise West and to install the pump on Surprise West is at Alice Springs (some 124.2 miles or 200 kilometers east of Surprise) awaiting final permitting and abatement in the weather. More than 11.81 inches (300 millimeters) of rain has fallen in the Surprise area (an area in which the average annual rainfall since 2001 is only 9.84 inches (250 millimeters) which may have a minimal effect on the commencement of the first production.


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