Half Year Accounts
Brisbane, Mar 15, 2016 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) Directors present their report on the consolidated entity consisting of Central Petroleum Limited and the entities it controlled at the end of, or during, the half-year ended 31 December 2015.
Principal Activity
The principal continuing activity of the consolidated entity ("the Group") during the period was the exploration, development and production of hydrocarbons.
Highlights for the half-year reporting period and up to the date of this report:
- Central completes 50% acquisition of Mereenie oil and gas field and assumes operatorship effective 1 September 2015
- Dingo Gas Field commenced deliveries of gas into the Owen Springs Power Station.
- Pressure and flow data has been gathered as part of the Mereenie reserve upgrade programme.
- Stage 1 of Mereenie reserves upgrades and certification announced with results showing a 240% increase in Proved Reserves.
- Development of the North East Gas Interconnector ("NEGI" or otherwise to be known as the Northern Gas Pipeline (NGP)) progressed with the NT Government's announcement that Jemena Northern Gas Pipeline Pty Ltd had been selected to construct and operate the pipeline with size to be selected in April 2016.
- Capital Raising to support NEGI reserves certification embarked upon with a Share Placement raising $10.5 million gross in November 2015 and a Share Purchase Plan raising an additional $1.7 million gross in December 2015.
- New corporate website launched incorporating new corporate logo
To view the full half year report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-756531.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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