Quarterly Activities Report
- The Dukas-1 exploration well progressed during the quarter, with spudding on 16 April 2019 and total depth anticipated by mid-CY2019.
- The Mereenie field successfully operated at significantly elevated production levels following a facility upgrade, enabling the Company to meet all firm sales obligations.
- Total sales volume over the quarter was 3.7 PJE, a 190% increase over the March 2018 quarter.
- Net cash flow from operations, after exploration, interest and unallocated G&A, was $8.5 million(including CY2018 take-or-pay receipt of $5.1 million) with a cash balance at the end of the quarter of $19.3 million (up from $10.9 million at 31 December 2018).
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About Central Petroleum Limited
Central Petroleum Limited (ASX:CTP) is an oil and gas explorer and producer listed on the Australian Securities Exchange focused on supplying the domestic gas market. Central is advancing several separate projects across what is regarded as the biggest package of proven and prospective oil and gas acreage across central Australia. This spread of assets gives Central multiple options for growth and development. 88% of this land being gas prone has led to the Company's focus on becoming a major domestic gas producer.
Central Petroleum Limited