Central Petroleum Limited (CTP.AX) March 2019 Quarterly Review
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Delivering on our gas strategy
- 2 Significant gas related farm-outs in 2012 (Santos and Total)
- Acquired 3 producing gas fields in 2014/15 at pre-Northern Gas Pipeline (NGP) prices
- Delivered the Gas Acceleration Program (GAP):
o largest project undertaken by Central
o delivered plant capacity increase on time and within available funding
- NGP now complete and operational (3 Jan 2019)
- March 2019 quarter delivered nearly 3x sales volume:
o significant FCF from normal operations for the first time
o opportunity to create significantly more value from existing producing assets
- This is just the start: Potential company-changing free-carry exploration in 2019 and new high-potential exploration activities organically funded from 2020 with the objective of creating significant shareholder value
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About Central Petroleum Limited:
Central Petroleum Limited (ASX:CTP) is an oil and gas explorer and producer listed on the Australian Securities Exchange focused on supplying the domestic gas market. Central is advancing several separate projects across what is regarded as the biggest package of proven and prospective oil and gas acreage across central Australia. This spread of assets gives Central multiple options for growth and development. 88% of this land being gas prone has led to the Company's focus on becoming a major domestic gas producer.
Source:
Central Petroleum Limited
Contact:
Central Petroleum Limited T: +61-7-3181-3800 F: +61-7-3181-3855 E: [email protected] WWW: www.centralpetroleum.com.au Media Enquiries Helen McCrombie at Citadel-MAGNUS T: +61-2-8234-0103 M: +61-411-756-248
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