Central Petroleum Limited: Quarterly Activities Report
Brisbane, Australia - Central Petroleum Ltd. (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) provide the Activities Report and ASX Appendix 5B.- New gas sale contracts becoming visible, reflected in increased revenues, average prices and cash flows:
- Sales revenue has increased significantly:
o 22% higher for the full year ($41.8m) compared to FY24, on a 2% increase in volume;
o 28% higher for 2H FY25 ($23.4m) compared to 1H FY25; and
o 5.5% higher for the June quarter ($12.0m) compared to the preceding March quarter, which itself was 22% higher than the December quarter.
o Unit sales prices: the average realised delivered price across the portfolio was $10.38 / GJe (Gigajoule equivalent) for the June quarter, 6% higher than the previous quarter.
The full year average realised delivered price was $9.02 / GJe, up 19% from the FY24 average, reflecting the impact of six months of sales under new gas contracts.
o Operating cash inflows of $6.3m ($8.1m before net interest and exploration) were 70% higher than the $3.7m received in the previous quarter, benefitting from new gas contracts, recovery of increased regulatory costs under eligible sales contracts and timing of payments for returned overlift gas.
o Sales volumes remained strong, benefitting from the two new Mereenie wells which continue to perform above pre-drill expectations. In aggregate, sales volumes were:
- steady with the prior quarter at 1.16 PJe (Petajoule equivalent); and
- 2.4% higher than FY24 at 4.63 PJe for the full financial year.
o Cash balance at the end of the quarter was $27.5m, up $6.0m from $21.5m at 31 March (28%). Key cash flows included:
- Net operating inflows of $8.1m (before net interest and exploration);
- CAPEX, including final drilling program costs at Mereenie, of $1.1m;
- Net $1.0m proceeds from the sale of the non-core Brewer Estateproperty;
- Exploration related expenditures of $1.3m, being mainly the cost of necessary rehabilitation and remediation works in the Southern Georgina Basin; and
- Net interest payments of $0.5 million.
o Net cash was $3.9 million at 30 June, including $2.5 million of funds held as security for the loan facility.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/1N44KU4B
About Central Petroleum Limited:
Central Petroleum Limited (Central) is an established ASX-listed Australian oil and gas producer (ASX:CTP) with exploration and appraisal permits in the Northern Territory (NT). Central has grown to become the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and wider Australian east coast market.
Central is seeking to become a major domestic energy supplier, in addition to helium and naturally occurring hydrogen, with exploration, appraisal and development plans across 169,112 km2 of tenements the NT, including some of Australia's largest known onshore conventional gas prospects in the Amadeus Basin.
Source:
Central Petroleum Limited
Contact:
Investor and Media Inquiries: Greg Bourke: +61-478-318-702 Sarah Morgan: +61-421-664-969
