Central Petroleum Limited Stock Market Press Releases and Company Profile
Quarterly Activities Report
Quarterly Activities Report

Brisbane, Oct 31, 2018 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) provides the Company's Quarterly Activities Report.

HIGHLIGHTS

- 2018 Annual Report was released on 28 September 2018 with sales revenue and underlying EBITDAX increasing by 41% and 395% respectively over the prior year.

- Cash balance at the end of the quarter was $22.1 million and combined with undrawn debt facility remains sufficient to fund the anticipated costs of current activities.

- WM26 was completed, with minor gas shows attributed to mineralisation. Whilst the result was disappointing, we will undertake a technical review to identify alternative approaches to make the stairway target commercial.

- Palm Valley 13 encountered encouraging gas flows and the well will be tied in to production facilities in early 2019.

- Mereenie expansion project continues to progress towards a completion date in early December.

- Palm Valley restart and optimisation project continues to progress towards a restart date by late October / early November.

- Dingo water bath heater installed, reducing methanol consumption.

- Queensland CSG exploration acreage (ATP 2031) awarded and is now being progressed with drilling anticipated in 2019.

To view the full report, please visit:
http://abnnewswire.net/lnk/8A761XRM


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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