Quarterly Activities Report
Brisbane, April 30, 2019 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) provides the Company's Quarterly Activities Report.
HIGHLIGHTS
- The Dukas-1 exploration well progressed during the quarter, with spudding on 16 April 2019 and total depth anticipated by mid-CY2019.
- The Mereenie field successfully operated at significantly elevated production levels following a facility upgrade, enabling the Company to meet all firm sales obligations.
- Total sales volume over the quarter was 3.7 PJE, a 190% increase over the March 2018 quarter.
- Net cash flow from operations, after exploration, interest and unallocated G&A, was $8.5 million(including CY2018 take-or-pay receipt of $5.1 million) with a cash balance at the end of the quarter of $19.3 million (up from $10.9 million at 31 December 2018).
To view the full report, please visit:
http://abnnewswire.net/lnk/NGB624P5
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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