Central Petroleum Limited Stock Market Press Releases and Company Profile
Quarterly Update Presentation
Quarterly Update Presentation

Brisbane, May 14, 2020 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) (googlechartC9J:FRA) (googlechartCPTLF:OTCMKTS) provide the Quarterly Update Presentation.


- Oil oversupply and lower energy demand following COVID-19 has generated sudden and unprecedented shocks to the energy sector

- Lower quarterly revenues (18%) reflect these very depressed market conditions, but demonstrate the value of our long-term, firm gas supply contracts.

- Central's business is much more financially resilient and well-placed to ride-out market cycles

o $26.1 million cash balance, one of Central's highest ever quarter ending cash balances

o Loan maturity extended to September 2021 and low debt service requirements

o Corporate costs reduced and discretionary expenditures paused

- Focus now on returning to full growth mode ASAP

To view the presentation, please visit:
https://abnnewswire.net/lnk/G6IP5T93


About Central Petroleum Limited

Central Petroleum LimitedCentral 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.

abnnewswire.com 


Contact

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969



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