Brisbane, Australia (ABN Newswire) -
Central Petroleum Ltd. (ASX:CTP) (OTCMKTS:CPTLF) Gold Coast Investment Showcase Presentation featuring the Mereenie Oil and Gas field.
Acquisition Overview:
CTP will acquire a 50% interest in the Mereenie Oil & Gas Field from Santos and assume Operatorship
CTP will become Operator across all 3 producing gas fields in Central Australia
Total acquisition cost of A$55m funded by debt and available cash
Compelling value driver (CTP Base IRR > 20%) with immediate benefits to net cash flow and debt financing costs
Substantial upside potential:
- Significant undeveloped oil reserves not valued (oil price rebound potential)
- Significant uncontracted gas reserves and installed production ~ 45TJ/d. New sales opportunities into NT domestic, East Coast (NEGI), or Darwin LNG with low marginal production costs across CTP's portfolio (<$1.50/GJ)
Mereenie is the catalyst to connecting Central Australia with high value markets which will re-rate our surrounding exploration acreage and stimulate new exploration investment
For the full presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-723720.pdf
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.
Contact:
Central Petroleum Ltd.
T: +61 (0)7 3181 3800
F: +61 (0)7 3181 3855
www.centralpetroleum.com.au
