Central Petroleum Ltd. has been advised by Santos QNT Pty Ltd as the Operator of the EP112 Joint Venture that it requires further time to complete technical studies before a proposal can be put forward for EP112 JV approval in relation to further drilling at the Dukas prospect. No definitive guidance has been provided by Santos in relation to timing for EP112 JV approval on the Dukas drilling program. As Central announced [...]
Central Petroleum Ltd. provide the review of operations and the Quarterly Activities and Cashflow Report. Highlights - Cash balance at the end of the December quarter was $38.5 million, up from the $26.3 million balance at 30 September 2020, reflecting: - $16.6 million net cash flow from operations which includes the receipt of proceeds from the pre-sale of 3.5 PJ of gas to be delivered in 2022 and 2023 - Principal [...]
Central Petroleum Ltd. has contracted with Silver City Drilling Pty Ltd to have Rig 34 drill three appraisal pilot wells at Central's Range Gas Project in Queensland's Surat Basin. The first well is expected to spud in early April 2021. The Range Gas Project is being progressed under a 50:50 joint venture between wholly-owned subsidiaries of Central and Incitec Pivot Limited . These wells represent the next appraisal [...]
Central Petroleum Ltd. announces that Mr Wrix Gasteen has resigned as a director of Central Petroleum Ltd. and all its subsidiaries effective 28 November 2020. The Board has accordingly brought forward the appointment of Mr Mick McCormack as Chair effective 28 November 2020. Central Petroleum's MD and CEO, Mr Leon Devaney, commented "Wrix has been an integral part of the transformation Central has achieved over the past 5 [...]
In his address to shareholders at the 2020 Annual General Meeting, the Chair of Central Petroleum Ltd. Mr Wrix Gasteen, stated that it would be his last AGM as Chair. Under Mr Gasteen's leadership the Central Board has been expanded to incorporate the balance of skills, experience and vision required to deliver on Central's plans. This has included adding two very experienced professionals to the Board in the last 6 [...]
For Central Petroleum Ltd. , this year has highlighted the importance of having the stability, financial strength and the agility to be able to ride out the downturn caused by the pandemic and then to have the resilience to refocus on growth and grasp new opportunities as they arise. Amongst these new opportunities is the opportunity to participate as a foundation customer of the proposed Amadeus to Moomba Gas Pipeline [...]
Central Petroleum Ltd. is pleased to announce that the farmout process to fund an Amadeus Basin Exploration Programme has advanced to a final due diligence phase with a preferred bidder under a limited period exclusivity arrangement. Background The farmout process, initiated in January 2020, has attracted sustained interest from local and international industry participants, notwithstanding the impacts of intervening [...]
Central Petroleum Ltd. refers to its ASX Announcement dated 22 October 2020 and announces that the New Gas Sale Agreement referred in the Announcement has become unconditional following conditions precedent being met. About Central Petroleum Limited: Central Petroleum Ltd. is a well-established, and emerging ASX-listed Australian oil and gas producer . In our short history, Central has grown to become the largest onshore [...]
Central Petroleum Ltd. is pleased to announce the restart of the Range Gas Project in Queensland's Surat Basin. The Range Gas Project is being progressed under a 50:50 joint venture between Central and a wholly-owned subsidiary of Incitec Pivot Limited . Highlights - The Range JV will restart activities required to reach a final investment decision , including a 3-well appraisal pilot program targeted to be drilled in H1 [...]
Central Petroleum Ltd. wishes to congratulate one of its Non-Executive Directors, Dr Julian Fowles, in being appointed Chief Executive Officer and Managing Director of Karoon Energy Limited. Dr Fowles advises that it is a requirement of his appointment that he resigns all of his non-executive directorships, including with Central, in order to focus on his new role. The effective date of his resignation is 31 October 2020 [...]
Central Petroleum Ltd. has signed agreements for the sale of 3.5 PJ of gas and a 12-month extension to its existing finance facility with Macquarie Bank Limited . Highlights - Central to supply 3.5 Petajoules of gas to Macquarie over calendar years 2022 and 2023. - The gas supply agreement is to be pre-paid in full in December 2020. - Funding from the gas supply agreement will be used for the recompletion of four existing [...]
Central Petroleum Ltd. is pleased to announce a maiden full year profit after tax of $5.4 million for the year ended 30 June 2020. Highlights - Record annual sales volumes and revenues: o Sales volumes up 14% to 12.3 PJE o Revenues up 10% to $65 million. - 51% increase in EBITDAX to $33.4 million. - Maiden full year profit of $5.4 million. - 16% increase in 2P reserves to 161.2 PJE. - Added 135 PJ of 2C contingent gas [...]
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