Central Petroleum Limited (ASX:CTP) provides the Company's Operating Activities Report for the quarter ended 30 June, 2018.

HIGHLIGHTS

- Central and Incitec Pivot Limited ("IPL") entered into a Gas Sales Agreement whereby Central willdeliver at least 20 TJ/d of gas to IPL on an ex-field basis from its Palm Valley and Mereenie fields fromcommencement of commercial operations of the Northern Gas Pipeline (anticipated to be December 2018) until 31 December 2019.

- Central and IPL have agreed a 50:50 joint venture arrangement for ATP(A) 2031 in Queensland whereby IPL will contribute up to $20 million for appraisal drilling costs during the initial exploration period.

- A webinar presentation was held by the Managing Director on 9 May 2018 to discuss the Quarterly Report for the Quarter Ended 31 March 2018.

- Mr. Martin Kriewaldt was appointed the new Chairman of Central Petroleum Limited effective 14 May 2018 following Mr. Robert Hubbard's retirement from the Central Board.

- The West Mereenie 26 well spudded at 7:45pm on 22 May 2018 with the Stairway formation as the primary target.

- Cash balance at the end of the quarter was $27.2 million.

To view the full report, please visit:
http://abnnewswire.net/lnk/26O03XUD


About Central Petroleum Limited

Central Petroleum Limited (Central) is a well-established, and emerging ASX-listed Australian oil and gas producer (ASX:CTP). 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.

 

Contact

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



Link: Quarterly Activities Report & Quarterly Cash Flow Report


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