Quarterly Update Presentation
Brisbane, Aug 7, 2020 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (C9J:FRA) (CPTLF:OTCMKTS) provide the June 2020 Quarterly Update presentation with the following key highlights for the period.
- Record annual sales volumes and revenues despite challenging market conditions in 2H
- Quarterly results reflect depressed market conditions, but demonstrate the value of our long-term, firm gas supply contracts
- Central's business is financially resilient and positioned to ride-out market cycles
- $25.9 million cash balance
- Corporate costs reduced and discretionary expenditures paused
- Proved and Probable (2P) oil and gas reserves were upgraded by 22.5 PJE (16%)
- Reached agreement with Santos on the forward plan for the Dukas exploration well
- Continued excellent safety record, with no MTIs or LTIs for more than a year
- Focus on returning to growth mode
To view the presentation, please visit:
https://abnnewswire.net/lnk/4HQ359MO
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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