CTP 3.64% 5.3¢ central petroleum limited

Ann: CY2020 EXPLORATION PROGRAMME - NEW GROWTH PHASE, page-5

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    "This catalyst has generated an uplift in asset value that could be released efficiently through a sell-down. The key parameters for such divestment are anticipated to include: Central to retain a majority interest; Central to remain as operator; and Attract a fully aligned JV partner with financial and technical capacity.Based on indicative discussions and market approaches to date, combining a sell-down of operating assets with a farmout of the CY2020 exploration programme could generate significant interest from the market and allow Central to fully fund the CY2020 exploration programme and make a substantial debt repayment. Releasing asset level equity in this way could be more value-accretive for shareholders than other funding alternatives for this purpose".
 
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