Central Petroleum Limited Stock Market Press Releases and Company Profile
Management Changes
Management Changes

Brisbane, Aug 14, 2014 AEST (ABN Newswire) - Central Petroleum Ltd (googlechartASX:CTP) (googlechartCPTLY:OTCMKTS) announces that Mr Bruce Elsholz, Chief Financial Officer and Joint Company Secretary, has advised the Company of his decision to retire on 30th November of this year. As a result of his decision the Company has decided to appoint Leon Devaney as Chief Financial Officer effective from the 1 st November 2014 after finalization of the 2004 Annual Report.

Leon's present duties will be transferred to the Finance Department on that date.

Bruce Elsholz will resign from his duties as Company Secretary on 25t h August 2014 to enable the appointment of Joseph Morfea as Joint Company Secretary from that date. This will enable a smooth transition prior to the Annual General Meeting.

"Bruce has been with the Company for over 5 years and has overseen enormous changes. The cut in the Company's net cash burn rate is testimony to his ability and the Company will miss his guidance" said Richard Cottee, Managing Director of Central Petroleum.

"The Company's succession planning over the past two years have borne fruit enabling Leon Devaney to be prepared so as to ensure a seamless transition. Leon has tremendous ability and was the architect of the financing for the acquisition of Dingo and Palm Valley as well as Dingo's Development, Mr Cottee said.

To view the biography of Leon Devaney, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-687831.pdf


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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