Quarterly Activities Report and Appendix 5B
Brisbane, Jan 30, 2015 AEST (ABN Newswire) - With the recent drop in oil price, Central Petroleum Limited's (
ASX:CTP) (CPTLF:OTCMKTS) strategic move to become a focussed domestic gas producer proved prescient. In February 2014 the Company announced the acquisition of the Palm Valley and Dingo fields.
HIGHLIGHTS
- COAG endorses Northern Territory Gas Interconnect Process (NEGI) and 14 companies express interest;
- Central Petroleum enters into Framework Agreement with Incitec Pivot to supply up to 15PJ per annum from 2017 subject to certain conditions centered around NEGI and includes a provision for funding support;
- Company focus on increasing gas reserves through Gas Acceleration Project (GAP) aimed at supplying a domestic gas shortfall;
- Dingo Development on time, under budget and fully funded by debt;
- Surprise Oil Field averages 157 BOPD for quarter with 96.4% uptime (i.e. produced every day); and
- Gaudi #1 unconventional gas well results encouraging and being evaluated.
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-708340.pdf
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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