Central Petroleum Limited: Quarterly Update Presentation

07.08.2020  |  ABN Newswire

Brisbane, Australia - Central Petroleum Ltd. (ASX:CTP) (FRA:C9J) (OTCMKTS:CPTLF) provide the June 2020 Quarterly Update presentation with the following key highlights for the period.

- Record annual sales volumes and revenues despite challenging market conditions in 2H

- Quarterly results reflect depressed market conditions, but demonstrate the value of our long-term, firm gas supply contracts

- Central's business is financially resilient and positioned to ride-out market cycles

- $25.9 million cash balance

- Corporate costs reduced and discretionary expenditures paused

- Proved and Probable (2P) oil and gas reserves were upgraded by 22.5 PJE (16%)

- Reached agreement with Santos on the forward plan for the Dukas exploration well

- Continued excellent safety record, with no MTIs or LTIs for more than a year

- Focus on returning to growth mode

To view the presentation, please visit:
https://abnnewswire.net/lnk/4HQ359MO

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.

Source:

Central Petroleum Ltd.

Contact:

Central Petroleum Ltd. T: +61-7-3181-3800 F: +61-7-3181-3855 E: info@centralpetroleum.com.au WWW: www.centralpetroleum.com.au Media Enquiries Martin Debelle at Citadel-MAGNUS T: +61-2-8234-0100 M: +61-409-911-189