Central Petroleum Limited (
CENTRAL'S STRATEGY
PHASE 1
- Triple Gas Sales for the Northern Gas Pipeline (NGP) - now in two stages due to external lateral upgrades
- Get NT interconnected - achieved
- Pipeline reform to mitigate tyranny of distance - substantially achieved
- Upgrade existing facilities at Mereenie, Palm Valley and Dingo to become capable of processing 83 TJ/d (30 PJ p.a.) (gross) (nett to Central 54 TJ/d (20 PJ p.a.)) - underway
- Debottleneck external Mereenie spur line to match plant capacities - discussions underway
PHASE 2
- Prove up the Stairway and Ooraminna
- Increase recovery of Palm Valley
- Drilling results will determine whether to just upgrade NGP or enough reserves to justify new pipeline dedicated to domestic market
- Develop as soon as possible ATP 2031 by drilling a 9 well programme in joint venture with IPL (CTP free-carry) - targeting 15-20 PJ p.a. (gross) (7.5-10 PJ p.a. nett to Central)
- Results of present programme will inform development plan needed to prove up Phase 2 reserves
To view the full presentation, please visit:
http://abnnewswire.net/lnk/5372Y57B
About Central Petroleum Limited
Central Petroleum Limited (Central) is a well-established, and emerging ASX-listed Australian oil and gas producer (ASX:CTP). In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
Contact
Investor and Media Inquiries:Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969
Related Companies
Related Industry Topics: