Market Update - Noosa Mining Conference Presentation
Brisbane, July 14, 2015 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) are pleased to provide a market update presentation titled 'We Are Ready - Shortfall is our Pathway' at the Noosa Mining Conference Presentation.
Overview:
- The $5bn North Australia funding in the Federal Budget has the NEGI pipeline as a qualified receipt
- NEGI decision projected to be worth $75 million P.A. of incremental revenues in 2019.
- Over half of the gas transported through the NEGI pipeline will be sourced in fields Central operate.
- NEGI construction currently in final bidding stage involving four of the industry's biggest players (APA Group, Duet Group, Jemena and Merlin Energy)
- Current gas demand of approximately 700-800 PJ/P.A. With Gladstone it is predicted to increase to 2100 PJ/P.A. by 2017, creating a deep and liquid domestic market.
- Australian Domestic market in 2019 (NEGI first gas delivery) is 133 PJ/P.A short without NEGI according to EnergyQuest. With NEGI the domestic market will be 83 PJ/P.A short and growing.
- Australia's LNG export industry requires gas far in excess of Australia's current production, presenting further opportunity for Central Petroleum.
- Failure to act on projected gas shortfalls will cost Australia up to 300,000 domestic jobs as stated by NSW MP Anthony Roberts.
- Our competitors have presold into LNG at oil linked prices. Central's prices will be set at levels domestic industrial users can bear.
- We aim to produce gas at $1/GJ (ex. field operating costs), unconventional gas is currently costing $4/GJ.
To view the presentation, pleae visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-726271.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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