"1. Strategic direction
The current Board has worked collaboratively with the Managing Director and Chief Executive Officer and senior management in the development and implementation of the Company’s strategy and in particular the accumulation of the gas production assets which have added considerable value to Shareholders since their acquisition.
The strategy remains a work in progress with many major tasks to complete and risks to manage, such as reserve development, customer acquisition, cost effective transportation arrangements and raising the necessary capital to fund these activities."
What a lot of rot, as SP was about 12.5c, Sep 2015, when Mereenie deal done, and prior to MB offering their 17.5c , SP was about 12.5c.
Now SP about 17c, .... how is this 5c (1c in old money prior to consolidation), "added considerable value to Shareholders" ??????
Total bs or out of touch with reality.
Central Petroleum Limited (ASX:CTP) Mereenie Acquisition Completed
WWW:www.centralpetroleum.com.auCompany Overview Brisbane, Sep 1, 2015 AEST (ABN Newswire) - Central Petroleum Limited (ASX:CTP) announced that the acquisition by Central of a 50% interest in the Mereenie Oil and Gas Field has been completed today and accordingly Central has assumed operatorship of that field from Santos.
Mereenie is considered the largest conventional oil and gas structure discovered onshore Australia and together with reserves at Palm Valley and Dingo it allows 230 PJ of gas to be available to be marketed by Central for the Northern Territory Gas Interconnector ("NEGI").
"The acquisition of Mereenie completes Central's transition to a predominantly domestic gas producer allowing it to become an initial producer into NEGI. The Domestic Gas Price has risen considerably since both QCLNG LNG trains came onstream.
Fields under Central's operatorship should be the majority contributor of gas into NEGI and Central itself may well be the single largest contributor.
Central believes that the acquisition of Mereenie adds to the certainty of NEGI being announced next quarter allowing Central to benefit substantially from the rising gas price," said Richard Cottee, Central's Managing Director.
About Central Petroleum Limited
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) 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.
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Brisbane, Sep 1, 2015 AEST (ABN Newswire) - Central Petroleum Limited (
ASX:CTP) announced that the acquisition by Central of a 50% interest in the Mereenie Oil and Gas Field has been completed today and accordingly Central has assumed operatorship of that field from Santos.
Central Petroleum Limited (
