With the recent drop in oil price, Central Petroleum Limited's (ASX:CTP) strategic move to become a focussed domestic gas producer proved prescient. In February 2014 the Company announced the acquisition of the Palm Valley and Dingo fields.
Central Petroleum Limited
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) is an ASX listed junior exploration and production company operating the largest holding of prospective onshore acreage in Australia totalling over 270,000 km2, c.70 million acres. This acreage includes permits already awarded and acreage under application with 250,000 km2 under the Petroleum Acts and 20,000 km2 under the Mining Acts mainly in the Northern Territory with smaller holdings in Western Australia, South Australia and Queensland.
Central Petroleum Limited (ASX:CTP) advises following the recent drop in oil prices which has affected oil revenues from the Surprise field, Central has taken decisive action to ensure that the Company will be able to live within its present cash flows.
This is my second Annual General Meeting address to shareholders of Central Petroleum Limited (ASX:CTP) as Chairman of the company. I was appointed Chairman in April 2013 after briefly filling the role of Deputy Chairman.
Central Petroleum Ltd (ASX:CTP) (OTCMKTS:CPTLF) announced today it has entered into a non-binding heads of agreement (HOA) to supply up to 15PJ pa of gas from its conventional reservoirs in the Northern Territory to Incitec Pivot Limited (IPL).
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) advises that Managing Director, Richard Cottee, will be holding open shareholder briefings in the following cities on the dates stated below.
Central Petroleum Limited (ASX:CTP), as Operator of the Southern Georgina Joint Venture, advises that Gaudi-1 has completed coring from 2105m through the Lower Arthur Creek Formation (LAC) and Thorntonia Limestone, and reached total depth of 2430m in basement. Gas shows were recorded whilst coring through the LAC.
This quarter was one in which Central Petroleum Limited (ASX:CTP) began to harvest the hard work commenced two years ago. With record exploration dollars being spent in our acreage the Company was able to finish the quarter with essentially the same amount of cash as it began.
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) has undergone a very substantial transformation over the last 12 months or so. The following is a transcript of a Company Interview with Richard Cottee MD.
Today Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) launched a trial stage 1 of a 2 stage launch of its new website. We hope that the new website will be more user-friendly and enable our shareholders to access timely and accurate information concerning its activities.
There has been significant market speculation circulating in social media about Central Petroleum Ltd (ASX:CTP) and the Company is concerned this may be creating a false market. This includes assertions about the shareholdings of directors and management.