Central Petroleum (ASX: CTP) has been granted a trading halt by the ASX, 'pending an announcement regarding an agreement with a party for the purpose of pursuing a project of some of the company's interests in the Northern Territory and South Australia,' with Central's shares placed in pre-open.
The trading halt will last until the earlier of the announcement or commencement of trading on Monday 27th June.
Central operates the largest holding of prospective onshore acreage in Australia totalling over 270,000 square kilometres.
This acreage includes permits already awarded and acreage under application with 250,000 square kilometres under the Petroleum Acts and 20,000 square kilometres under the Mining Acts, located predominately in the Northern Territory with smaller holdings in South Australia, Western Australia and Queensland.