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Peak Helium Fails to Pay A$3mm to Central Petroleum

Central Petroleum revealed that Peak Helium has overdue payments of over A$3mm under the farmout agreement. This puts the planned three well sub-salt exploration program for Mahler, Dukas, and Jacko Bore at risk. Central has been approached by Peak Helium and its financiers to restructure their broader arrangements with all joint venture parties to prioritise drilling at EP 125 (Jacko Bore well), given the prospect is a discovery having already produced gas to surface with relatively high helium and hydrogen concentrations.

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