March 2019 Quarterly Review
Brisbane, May 14, 2019 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) provides the Company's Quarterly Review for March 2019.
Delivering on our gas strategy
- 2 Significant gas related farm-outs in 2012 (Santos and Total)
- Acquired 3 producing gas fields in 2014/15 at pre-Northern Gas Pipeline (NGP) prices
- Delivered the Gas Acceleration Program (GAP):
o largest project undertaken by Central
o delivered plant capacity increase on time and within available funding
- NGP now complete and operational (3 Jan 2019)
- March 2019 quarter delivered nearly 3x sales volume:
o significant FCF from normal operations for the first time
o opportunity to create significantly more value from existing producing assets
- This is just the start: Potential company-changing free-carry exploration in 2019 and new high-potential exploration activities organically funded from 2020 with the objective of creating significant shareholder value
To view the full presentation, please visit:
http://abnnewswire.net/lnk/9ID8A5S2
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.
| ||
|
