Brisbane - Central Petroleum Ltd. (ASX:CTP) provides the Company's latest Presentation at Credit Suisse 5th Annual Australian Energy Conference.
CENTRAL'S STRATEGY
PHASE 1
- Triple Gas Sales for the Northern Gas Pipeline (NGP) - now in two stages due to external lateral upgrades
- Get NT interconnected - achieved
- Pipeline reform to mitigate tyranny of distance - substantially achieved
- Upgrade existing facilities at Mereenie, Palm Valley and Dingo to become capable of processing 83 TJ/d (30 PJ p.a.) (gross) (nett to Central 54 TJ/d (20 PJ p.a.)) - underway
- Debottleneck external Mereenie spur line to match plant capacities - discussions underway
PHASE 2
- Prove up the Stairway and Ooraminna
- Increase recovery of Palm Valley
- Drilling results will determine whether to just upgrade NGP or enough reserves to justify new pipeline dedicated to domestic market
- Develop as soon as possible ATP 2031 by drilling a 9 well programme in joint venture with IPL (CTP free-carry) - targeting 15-20 PJ p.a. (gross) (7.5-10 PJ p.a. nett to Central)
- Results of present programme will inform development plan needed to prove up Phase 2 reserves
To view the full presentation, please visit: http://abnnewswire.net/lnk/5372Y57B
About Central Petroleum Limited:
Central Petroleum Ltd. (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.
Contact:
Central Petroleum Ltd. T: +61-7-3181-3800 F: +61-7-3181-3855 E: info@centralpetroleum.com.au www.centralpetroleum.com.au
Media Enquiries Martin Debelle at Citadel-MAGNUS T: +61-2-8234-0100 M: +61-409-911-189
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Brisbane - Central Petroleum Ltd. (ASX:CTP) provides the Company's latest Presentation at Credit Suisse 5th Annual Australian Energy Conference.
