FY2021 Annual Results and Business Update Presentation
Brisbane, Sep 21, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (C9J:FRA) (CNPTF:OTCMKTS) provide the FY2021 Annual Results and Business Update Presentation. The Annual Report for 2021 follow at the link at the end of this release.
Key operating highlights for the 2021 financial year include:
Strong Financial Performance
- $59.8M revenues; $26.1M EBITDAX
- Funding from 3.5 PJ pre sale agreement
- Net debt reduced by 32% to $31.3M
- Debt facility extended until September 2022
Range CSG Project pilot drilled and testing commenced
- Three pilot wells drilled and commissioned
- Early gas flow demonstrates good gas saturation
- Targeting 135 PJ of 2C contingent resource (net to Central)
Asset sale executed funding for growth activities
- 50% operating assets sold for $85 million
- Sale expected to result in a circa $35 million accounting profit
- Releases $40m for near term exploration and development (~$100 million gross JV)
- 2 well exploration program commencing 2021 (targeting 96 PJ of gas net to Central)
Exploration
- Two well drilling program to commence this year
- Dukas planning (re entry / re drill / new well) continues
- Zevon evaluation progressing with initial seismic testing this year
- Other exploration targets being advanced
To view the Full Annual Report, please visit:
https://www.abnnewswire.net/lnk/791PH4D6
To Business Update presentation, please visit:
https://abnnewswire.net/lnk/Z5MC86U1
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.
| ||
|
