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Central Petroleum Cleans Up Pedirka Basin Farm-in, Set To Drill Well This Year

Central Petroleum (ASX: CTP) has simplified its farm-in agreements with Rawson Resources (ASX: RAW), combining all its current EP 97 deals into a single farm-in deal.

The two companies have also agreed to remove the Dune Block, where Central has yet to earn an interest, from the agreement though Central will retain the first right to match any firm offer Rawson receives.

Central holds 80% of the Simpson, Bejah and Pellinor blocks in the permit and had shot 165 kilometres of 2D seismic in 2011.

Rawson had previously noted that Central planned to shoot 140 kilometres of 2D seismic and drill a well on one of these blocks this year though it did not provide further details.

It is also looking for partners to drill the Dune and Dune West prospects targeting more than 20 million barrels of oil this year.