Energy Expert & Commentator Extraordinaire Richard Cottee presents 'The Anatomy of the Australian Energy Fiasco' plus Central Petroleum's incredible growth trajectory!
to Present at the 228th Sydney Mining Club Christmas Forum
Sydney, Nov 20, 2017 AEST (ABN Newswire) - Playing a fundamental role in a suite of iconic Australian projects, UQ-trained lawyer and company makeover specialist Richard Cottee is most famous for pioneering Queensland Gas Company's five-year, $5.7 billion transformation. Now settling into his fifth year as MD of Central Petroleum (ASX:CTP) (CPTLF:OTCMKTS), Cottee has again been excelling, despite a massive low-price headwind, political interventions and an investment drought. Central Petroleum has a surging $62 million market cap and is at a tipping point with some explosive exploration results.
How long will it take to fix Australia's energy crisis? Cottee is a great raconteur and will give you amazing insights into Australia's current status as Global Energy Dunce (our words, not his!). He sees the current 'Gas versus Renewables' debate as a complete fabrication, with the State and Federal government forces only continuously fuelling Australia's energy dilemma.
Currently the Northern Territory's largest onshore gas producer, Central Petroleum operates 3 conventional gas fields - Mereenie, Palm Valley and Dingo - all projects dodging the Labor government's unconventional fracking moratoria. With 228,740 square kilometres of proven and prospective oil and gas acreage - 88% of this land 'gas prone' - the company is pushing a 'low-risk, cost-effective drilling program' while constructing the vital Northern Gas Pipeline ("NGP"). To be completed mid-2018, the NGP will flow 60TJ/d of high-pressure gas 622km between Tennant Creek in the NT and Mt Isa in QLD to supply the "fluxing and changing" East Coast gas markets, says Cottee.
Central is pitching to be a significant domestic energy player and has positioned itself to grow from current production of over 11 TJ/d of gas and 340 bopd (equity accounted). It has substantial uncontracted gas reserves and plenty of exploration and appraisal targets lining up to feed the East Coast market subject to appropriate ex-field pricing signals. Alternatively, Central may sell gas into the domestic Northern Territory market, or the growing Northern Territory LNG export market.
Its mantras are 'focusing on big targets' and 'early target monetisation via existing infrastructure'. With some pride Central points to 30% of its staff being indigenous, and its gas generating 40% of Alice Springs energy. Its fast becoming a major turbine for the development of Northern Australia, and could be there to bail out the East Coast if things get as bad as they are forecast to. Mines are big energy consumers too, and the ripple effects of these developments are things you need to be aware of, just in case the newspaper hasn't given it to your straight!
Not to be missed!
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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.
About Sydney Mining Club
The first Sydney Mining Club forum was held in March 1997.
The initial impetus for the formation of the Sydney club was discontent in the mining community with many aspects of the professional institutes and most of all with their ability to bring people together. Our activism led to the first changes to the constitution of the largest Institute in more than a century.
Sydney Mining Club
Central Petroleum Limited