Central Petroleum Limited Stock Market Press Releases and Company Profile

CLOSING THE GAP - Mitigating the Australian Energy Crisis

Quarterly Results Review Presentation
Quarterly Results Review Presentation

Brisbane, July 31, 2017 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) (googlechartCPTLF:OTCMKTS) provides the Company's latest Quarterly Results Review Presentation.

OPERATIONAL UPDATE

Central's Gas Acceleration Programme is 'drill-ready' to close the GAP in gas supply through NGP in 2018.

Consideration: Stairway Testing programme

Update: - Continued through 2017:

o West Mereenie 15 free flowing gas from Stairway at sustainable rates with a low nitrogen content of 2.6%

o Palm Valley natural fracture modelling underway

Consideration: Dingo Upgrade - TEG

Update: TEG unit being ordered in time as part of the Dingo upgrade for Owen Springs Power Station upgrade

Consideration: Production workforce

Update: - Production workforce in the Northern Territory transformed to:

o 1/3 local indigenous
o 1/3 local non-indigenous
o 1/3 FIFO

Consideration: Local economic activity

Update: Local economic activity is around $3.4 million annually - an increase of $2.3 million p.a. since assuming operatorship of producing gas fields in the Northern Territory

COMMERCIAL & STRATEGIC UPDATE

The GAP is based on brownfield economics using existing infrastructure enabling "success" to be sold and gas delivered.

Consideration: Reserves and cash

Update: - Targeted Reserves 446 PJ (Most Likely and Existing)

- Cash balance at the end of the quarter was $5.5 million with EDL revenue to come

Consideration: Financials

Update: Central's FY2018 EBITDA* is forecast to be positive for the first time in corporate history following the first full year of revenue from the EDL gas sale agreement which represents a 46% increase in FY2018 contracted gas sales

Consideration: Takeover bid

Update: - Shareholder and takeover issues resolved

- Scheme Independent Expert valued the Company at >20 cents per share, taking into account a $42 million capital requirement

Consideration: Closing the GAP

Update: - Negotiations are progressing satisfactorily for Mereenie joint venture's gas marketing so that, when we decide to Close the GAP, there can be quick commercialisation

- Ground-breaking on NGP on 12 July - on track to be operational by Q4 next calendar year

- Ensured Central not caught by Fraccing Moratorium in Northern Territory

* Excluding the $25 million exploration programme identified in this presentation and the impact of Total's withdrawal from the Southern Georgina Joint Venture.

To view the full presentation, please visit:
http://abnnewswire.net/lnk/V95Z857D


About Central Petroleum Limited

Central Petroleum LimitedCentral 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.

abnnewswire.com 


Contact

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969



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