Managing Director John Heugh and Julian Malnic Discuss CTP's Oil Discovery in Central Australia
Sydney, Feb 18, 2012 AEST (ABN Newswire) - FINANCE VIDEO: Central Petroleum (
ASX:CTP) Managing Director John Heugh and Julian Malnic discuss the Surprise Well in Central Australia. A significant oil discovery seeing Central Petroleum transition from explorer to producer.
Central Petroleum Limited 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.
The acreage is entirely onshore and because of this, drilling costs are a fraction of those generally encountered offshore. The Company operates this acreage in one of the most fiscally and politically stable countries in the world, Australia.
The Company's main goal is to maximise shareholder returns by enhanced share value and ultimately by dividend payments. It aims to do this by operating a central Australian petroleum hub connected to appropriate infrastructure to allow the export to domestic and overseas markets of both primary energy resources and value added petroleum and helium products.
View the Video here:
http://central-petroleum.abn-ir.net/env/
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.
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