Operating Activities Report
Brisbane, July 30, 2018 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) provides the Company's Operating Activities Report for the quarter ended 30 June, 2018.
HIGHLIGHTS
- Central and Incitec Pivot Limited ("IPL") entered into a Gas Sales Agreement whereby Central willdeliver at least 20 TJ/d of gas to IPL on an ex-field basis from its Palm Valley and Mereenie fields fromcommencement of commercial operations of the Northern Gas Pipeline (anticipated to be December 2018) until 31 December 2019.
- Central and IPL have agreed a 50:50 joint venture arrangement for ATP(A) 2031 in Queensland whereby IPL will contribute up to $20 million for appraisal drilling costs during the initial exploration period.
- A webinar presentation was held by the Managing Director on 9 May 2018 to discuss the Quarterly Report for the Quarter Ended 31 March 2018.
- Mr. Martin Kriewaldt was appointed the new Chairman of Central Petroleum Limited effective 14 May 2018 following Mr. Robert Hubbard's retirement from the Central Board.
- The West Mereenie 26 well spudded at 7:45pm on 22 May 2018 with the Stairway formation as the primary target.
- Cash balance at the end of the quarter was $27.2 million.
To view the full report, please visit:
http://abnnewswire.net/lnk/26O03XUD
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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