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Central Petroleum Granted Voluntary Suspension, Capital Raising Announcement Pending

Central Petroleum (ASX: CTP) has been granted a change in status by the ASX to voluntary suspension pending the release of a proposed capital raising announcement.

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 voluntary suspension has been requested to last until the earlier of an announcement being made to the market, or the opening of trade on Monday 6 February.