Dingo Gas Delivered into Owen Springs Power Station
Brisbane, Dec 17, 2015 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (CPTLF:OTCMKTS) ("Company" or "Central") today announced that the physical tie-in to the Owen Springs Power Station by the customer is being commissioned and Dingo gas has therefore passed the Delivery Point under the Gas Supply and Purchase Agreement (GSPA).
Central completed its Dingo Gas Project pipeline and plant before 1 April 2015 on time and under budget with production subject to tie-in by the customer to the Company's delivery point at Owen Springs Power Station.
Under the GSPA, the Take or Pay provision was triggered effective 1 April 2015 and therefore over $2.5 million of revenue will be paid in January 2016.
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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