Annual Report to Shareholders
Brisbane, Sep 19, 2023 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (C9J:FRA) (CNPTF:OTCMKTS) is an ASX-listed oil and gas producer, with a portfolio of producing and prospective tenements across the Northern Territory (NT) and Queensland. Central is the operator of the largest onshore gas producing fields in the NT, supplying industrial customers, electricity generators and senior gas distributors from three producing fields near Alice Springs.
The Group added an additional 5.9 PJ of Proved and Probable (2P) gas reserves at 30 June 2023, representing an increase of 8% (before production) to 75 PJe reflecting drilling and production results at Palm Valley and updated Dingo reservoir modelling.
The Palm Valley 12 well was successfully tied into the Palm Valley processing facilities and flowed gas to market from late November 2022 at greater than 10 TJ per day.
New gas sales agreements for the sale of gas were secured with:
- Shell Energy for supply of 0.91 PJ of gas in CY2025; and
- South 32 for supply of 0.55 PJ of gas over two years from 1 January 2023.
Average sales prices were up 17% on FY2022 at $7.90 / GJe.
Annual revenue from hydrocarbon sales of $38.2 million was up 12% from FY2022 on a like for like basis.
In August 2023, agreement was reached to progress towards a final investment decision for construction of a helium recovery unit at Mereenie, demonstrating the potential of the Amadeus Basin as a world-class helium resource.
*To view the Annual Report, please visit:
https://abnnewswire.net/lnk/9S7D9L04
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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