Menu

Australian Shares.com is the world's biggest free online database of information on Australian resource companies.

This website has up-to-date details on over 1000 separate listed and unlisted organisations, including what they mine (or explore) for, how much of any given resource they have in the ground, or in reserve, the location of their operations, corporate details, news, links and history. Find out more

Australian Shares

Australian Shares Sparty's Blog

Comments on this blog should never be taken as investment advice


Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. Sparty's posts nearly always relate to companies that he either holds, has held or intends to hold.

Main ForumCTP sells pre-paid gas. $15m in cash

  • Central Petroleum Limited ("Central") (ASX:CTP) (OTCMKTS:CPTLF) today signed a "Gas Sales and Prepayment Agreement" ("GSPA") with Macquarie Bank Limited ("MBL").

    • Gas Sales Agreement signed for 5.2PJs of pre-paid gas supplied over 3 years, with up to an additional 3.5PJ of additional gas sales possible over 2 subsequent years
    • Central receives immediate payment for the pre-paid gas under the Agreement
    • Proceeds from the Agreement enable Central to fully fund the deferred purchase price of $10M for the Mereenie oil and gas field as well as new reserve growth
    • Central's exposure to the Mereenie Production Bonus removed giving future potential savings of $2.5 to $8.75 million

    Read full article

    CTP-ACREAGE.gif
    enlarge image

  • Central Petroleum ended the June quarter in the strongest financial position ever with over $15 million cash available after paying Santos the $10 million final instalment on the acquisition of its 50% interest in the Mereenie oil and gas field. This completes CTP's strategy commenced three years ago to transform the company from an explorer with small oil production to the largest onshore gas producer in the Northern Territory. Read the Managing Director's full report

Want to take part in this discussion? Click one of these: Sign In Apply for Membership

Australian Shares Forum Options

 








Howdy, Stranger!

It looks like you're new here. If you want to take part in the discussions, click one of these buttons!

Sign In Apply for Membership