Poised as Major Foundation Gas Supplier into NEGI
Brisbane, Oct 28, 2015 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) is pleased to release an updated corporate presentation to the market titled "It's Time... The Domestic Gas Company - NEGI is Now".
Key messages covered within the presentation include:
- Central has positioned itself as the major on-shore gas producer in the Northern Territory following the recent acquisitions of Palm Valley and Dingo gas fields (100%) and the Mereenie oil and gas field (50%).
- The North East Gas Interconnector (NEGI) pipeline project has increased in confidence following final bids having been submitted on 30 September 2015 by all four shortlisted proponents. Current market analyses now consistently confirm a critical gas supply shortfall in the East Coast, making the NEGI pipeline a critical project for Australia's energy supply.
- Central has over 75% of its current revenues from long-term fixed price domestic gas contracts. With over 170 PJs of existing 2P gas reserves (market unconstrained) and a near term target of over 300PJs of 2P reserves, Central expects to be the largest foundation gas supplier into the NEGI pipeline when it is proposed to be completed in 2018.
- Central has vast exploration acreage, including farmout Joint Ventures with Santos and Total targeting new gas reserves. Central has retained over 50% of its exploration acreage on a 100% basis and stands to be a key beneficiary as it seeks to become a major new gas supplier into the high-priced East Coast Gas Market.
Central's economics reflect low cost conventional gas production from existing gas fields and infrastructure. When combined with significant existing installed but underutilised gas production capacity acquired under the Mereenie acquisition, the economics of the NEGI pipeline (should it proceed) are highly value accretive for Central.
To view the presentation, please visit:
http://media.abnnewswire.net/media/en/presentations/rpt/ASX-CTP-739091.pdf
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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