My key takeaways from this report… - Large volumes of contingent...

My key takeaways from this report…

- Large volumes of contingent resources have been identified in the (Mereenie) Stairway and P4 formations. Operational programs for the conversion of Stairway and P4 Contingent resources to Reserves are being prepared. Comment: Eager to understand the potential size of these “large volumes” and how much can be turned into bankable reserves. Hopefully this info will be available in the coming 3-6 months.

- The NGP hit a major milestone on 18 October, with the steel pipes being unloaded in Darwin. Comment: Our ability to bring production to a greater market is on track.

- On 23 September 2016 Central submitted an application to the NT Department of Mines and Energy for consent to surrender EP107. Comment: Assume this one is not considered worthwhile, which is a pity as its 100% CTP.

- Receipts from customers was $6,141. Comment: This is up ~5% on the previous quarter, in line with the comments on crude pricing, and generally seems to be following the mild upward trend (with the exception the 1QCY figures that include ToP payments). Staff costs up in line with comments on redundancies to increase local hiring so seems ok.

- The Company forecasts that it’s cash position will improve from $7.2M to approx. $8.7M at the start of 2017. Comment: Thank goodness for the ToP provisions, or we’d be skating pretty close to the bottom of the barrel by the end of FY17. Forecast however suggests we can maintain our interest obligations (and a bit more) and stay in the black through until NGP is completed and real revenues start flowing in.

Glad to see RC actively taking the fight to the “FIFO fractivists” and trimming costs wherever possible. All the while setting up for the reduction in pipeline tariffs through his lobbying.

One comment which has me scratching my head, and hoping someone more learned than me in this forum can advise is: “EPA296 in the WISO Basin is emerging from moratorium” … what is this a reference to?