Australia, Here We Come
Latest Company Presentation
Brisbane, July 19, 2018 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) provides the Company's latest presentation at Noosa Mining & Exploration Conference.
CENTRAL'S STRATEGY
PHASE 1
- Northern Territory interconnected with east coast gas market via Northern Gas Pipeline (NGP) -commencement scheduled for late 2018
- Pipeline reform to mitigate pipeline transportation costs -COAG pipeline reforms are currently being implemented
- Upgrade of existing facilities in progress to be capable of processing 15.43 PJ/year of firm gas (net to Central) -commencement scheduled for late 2018
- 184% increase in gas sales following commencement of the NGP later this year
PHASE 2
- Aim was to prove up the Stairway and Ooraminna
- Increase recovery from Palm Valley -drilling PV-13
- WM-26 proved the Stairway to be gas bearing and the natural occurrence of fractures but the fractures are closed up by mineralisation. Further work required to determine best method to address mineralisation
- Develop ATP 2031 as soon as possible by drilling a 9 well programme in joint venture with Incitec Pivot Limited (Central free-carry) -targeting 15 to 20 PJ/year (gross) (7.5 to 10 PJ/year net 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/LY22410Q
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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