Gold Coast Investment Showcase Presentation
Brisbane, June 18, 2015 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (CPTLF:OTCMKTS) Gold Coast Investment Showcase Presentation featuring the Mereenie Oil and Gas field.
Acquisition Overview:
CTP will acquire a 50% interest in the Mereenie Oil & Gas Field from Santos and assume Operatorship
CTP will become Operator across all 3 producing gas fields in Central Australia
Total acquisition cost of A$55m funded by debt and available cash
Compelling value driver (CTP Base IRR > 20%) with immediate benefits to net cash flow and debt financing costs
Substantial upside potential:
- Significant undeveloped oil reserves not valued (oil price rebound potential)
- Significant uncontracted gas reserves and installed production ~ 45TJ/d. New sales opportunities into NT domestic, East Coast (NEGI), or Darwin LNG with low marginal production costs across CTP's portfolio (<$1.50/GJ)
Mereenie is the catalyst to connecting Central Australia with high value markets which will re-rate our surrounding exploration acreage and stimulate new exploration investment
For the full presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-724074.pdf
About Central Petroleum Limited
Central Petroleum Limited (ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. 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.
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