Annual Report to shareholders
Brisbane, Sep 25, 2017 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) (CPTLF:OTCMKTS) has had another year of significant progress operationally and financially with growth in oil and gas production and revenues, continued focus on costs and the securing of the EDL gas contract for supply which commenced in June 2017.
The financial performance for the year was marred by the mark to market loss on the Macquarie gas prepayment contract, where repayment will commence either financially or through the supply of gas. However, operational financial performance should continue to improve in 2017/18 with Central essentially self-funding ensuring all funds from the capital raising will be devoted to the drilling programme.
To view the annual report, please visit:
http://abnnewswire.net/lnk/H0G541CY
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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