Central Petroleum, Santos to Explore Australia’s Amadeus Basin

The Guardian reported that a consortium of companies comprising of Central Petroleum (ASX:CTP) and Santos (ASX:STO) is looking to expand into Australia’s Northern Territory. The companies have dismissed claims that drilling will have a negative affect on the nearby tourist site of Uluru.

As quoted in the publication:

The region, known as the Amadeus Basin, is thought to be rich with gas and oil deposits, and is already the site of test drilling by Santos at Mount Kitty. Drilling at this site, 179km from Uluru, has been suspended following an accident when the drill rig fell over in April. Santos has secured 63,650 sq km of exploration area in the basin, in a $150m deal with Central Petroleum. This area stretches to within 75km of Uluru, a proximity which has concerned environmentalists and some politicians.

Click here to read the full Guardian article.