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.
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.
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.
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF), has reached agreement with IOR Transport Pty Ltd for the domestic transportation of the crude produced at Surprise West.
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF), as Operator of the Southern Georgina Joint Venture, advises that coring at Gaudi-1 continues having reached a depth of 2,157 metres in the Lower Arthur Creek Formation. There have been 8 cores taken to date representing over 10 percent of the total expected to be taken for Gaudi-1
Central Petroleum Limited (ASX:CTP) ("Company" or "Central"), as Operator of the Southern Georgina Joint Venture, advises that drilling of Gaudi-1 continues.
Central Petroleum Ltd (ASX:CTP) (OTCMKTS:CPTLF) ("Central" or "Company") welcomes the recent Council of Australian Governments (COAG) announcement
As at 06:00hrs on 7 October 2014 Gaudi-1 was drilling ahead in 8 1/2" hole at a depth of 2,095m. Once drilling reaches 2,102m wireline logs will be run to confirm stratigraphy. After logging it is planned to run intermediate casing and then commence coring operations through the Arthur Creek Formation.
Central Petroleum Limited (ASX:CTP) is now poised to unlock the undoubted shareholder wealth that has been latent for so long. Santos has committed to Stage 2 of the Farm-in for the Southern Amadeus Joint Venture. Drilling at Mt Kitty has proved that the Southern Amadeus is hydro-carbon charged and has helium to contribute handsomely to the economics of development. The drilling for the Southern Georgina joint venture with Total has also commenced.
Central Petroleum Ltd (ASX:CTP) has agreed to place 20 million shares at $0.30 per share with institutional investors in Australia and Hong Kong raising $6 million. The $0.30 issue price represents a 1.7% discount to the 10-day VWAP.