Brisbane, Australia (ABN Newswire) - The Managing Director of
Central Petroleum Ltd. (ASX:CTP) ("Company" or "Central"), Mr Richard Cottee said the Company welcomed media reports today that the North East Gas Interconnector ("NEGI") was "almost certain" to be built according to the Northern Territory's Chief Minister Adam Giles.
The report in The Australian newspaper said a short list of candidates would submit final proposals to complete the project including Merlin Energy Australia.
Mr Cottee said Merlin Energy Australia should not be confused with the Central Petroleum subsidiary Merlin Energy Pty Ltd (ACN 081 592 734) and that Central had no construction or funding involvement with the NEGI pipeline proposal.
"Central has been an early and strong advocate of the NEGI, so the confusion is understandable, but Central is not involved in the pipeline construction proposal. Our role is intended to be as a supplier of the gas to be transported through the pipeline", said Mr Cottee.
"The proposed pipeline will directly link the Northern Territory's budding gas fields, including Central's Palm Valley and Dingo fields, to the huge domestic demand centres of South Eastern Australia. The effect will be to create the backbone for a domestic gas market", he said.
Mr Cottee said Central had received a number of media and investor inquiries today seeking further information about Central's involvement and it was necessary to ensure the market was accurately informed.
About Central Petroleum Limited:
Central Petroleum Ltd. (ASX:CTP) (OTCMKTS:CPTLF) is an ASX listed junior exploration and production company operating the largest holding of prospective onshore acreage in Australia totalling over 270,000 km2, c.70 million acres. This acreage includes permits already awarded and acreage under application with 250,000 km2 under the Petroleum Acts and 20,000 km2 under the Mining Acts mainly in the Northern Territory with smaller holdings in Western Australia, South Australia and Queensland.
Source:
Central Petroleum Ltd.
Contact:
Martin Debelle Citadel T: +61 2 9290 3033 M: +61 (0)409 911 189
