Strategic Review Advisor Appointed
Brisbane, Sep 28, 2022 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (C9J:FRA) (CNPTF:OTCMKTS) advises that RBC Capital Markets ("RBC") has been appointed as exclusive advisor to undertake a strategic review of the Company's asset portfolio and transactional opportunities that may arise to crystalise asset value.
The review will assess options for the Company's extensive portfolio of exploration, appraisal and production assets and examine further opportunities in the context of the current market and capital landscapes. The strategic review is expected to be completed by the end of October 2022, with timing for any further activity related to the strategic review to be determined at that time.
Mick McCormack, Chair of Central said, "We look forward to working with RBC and their highly experienced team to conduct this review."
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.
Central Petroleum Limited