March 2019 Quarterly Review
Brisbane, May 14, 2019 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) provides the Company's Quarterly Review for March 2019.
Delivering on our gas strategy
- 2 Significant gas related farm-outs in 2012 (Santos and Total)
- Acquired 3 producing gas fields in 2014/15 at pre-Northern Gas Pipeline (NGP) prices
- Delivered the Gas Acceleration Program (GAP):
o largest project undertaken by Central
o delivered plant capacity increase on time and within available funding
- NGP now complete and operational (3 Jan 2019)
- March 2019 quarter delivered nearly 3x sales volume:
o significant FCF from normal operations for the first time
o opportunity to create significantly more value from existing producing assets
- This is just the start: Potential company-changing free-carry exploration in 2019 and new high-potential exploration activities organically funded from 2020 with the objective of creating significant shareholder value
To view the full presentation, please visit:
http://abnnewswire.net/lnk/9ID8A5S2
About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is an established ASX-listed Australian oil and gas producer (ASX:CTP) with exploration and appraisal permits in the Northern Territory (NT). Central has grown to become the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and wider Australian east coast market.
Central is seeking to become a major domestic energy supplier, in addition to helium and naturally occurring hydrogen, with exploration, appraisal and development plans across 169,112 km2 of tenements the NT, including some of Australia's largest known onshore conventional gas prospects in the Amadeus Basin.
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