Brisbane, Australia (ABN Newswire) -
Central Petroleum Ltd. (ASX:CTP) are pleased to provide a market update presentation titled 'We Are Ready - Shortfall is our Pathway' at the Noosa Mining Conference Presentation.
Overview:
- The $5bn North Australia funding in the Federal Budget has the NEGI pipeline as a qualified receipt
- NEGI decision projected to be worth $75 million P.A. of incremental revenues in 2019.
- Over half of the gas transported through the NEGI pipeline will be sourced in fields Central operate.
- NEGI construction currently in final bidding stage involving four of the industry's biggest players (APA Group, Duet Group, Jemena and Merlin Energy)
- Current gas demand of approximately 700-800 PJ/P.A. With Gladstone it is predicted to increase to 2100 PJ/P.A. by 2017, creating a deep and liquid domestic market.
- Australian Domestic market in 2019 (NEGI first gas delivery) is 133 PJ/P.A short without NEGI according to EnergyQuest. With NEGI the domestic market will be 83 PJ/P.A short and growing.
- Australia's LNG export industry requires gas far in excess of Australia's current production, presenting further opportunity for Central Petroleum.
- Failure to act on projected gas shortfalls will cost Australia up to 300,000 domestic jobs as stated by NSW MP Anthony Roberts.
- Our competitors have presold into LNG at oil linked prices. Central's prices will be set at levels domestic industrial users can bear.
- We aim to produce gas at $1/GJ (ex. field operating costs), unconventional gas is currently costing $4/GJ.
To view the presentation, pleae visit:
http://media.abnnewswire.net/media/en/docs/ASX-CTP-726271.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: +61-7-3181-3800
F: +61-7-3181-3855
www.centralpetroleum.com.au
