CENTRAL PETROLEUM LIMITED - ASX: CTP

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Description

Central Petroleum is a ASX listed junior exploration and production company operating what is regarded as the biggest package of prospective acreage in Australia at over 270,000 km2.

The Company’s main goal is to maximise shareholder returns by enhanced share value and potentially by dividend payments. It aims to operate a central Australian petroleum hub connected to appropriate infrastructure to allow the export to domestic and overseas markets of both primary energy resources and value added petroleum and helium products.

The Company plans to potentially capitalise on early cash flow from any oil discoveries but is seeking to build gas resources to a threshold point where value–adding processes such as LNG and or GTL for example can be brought into play. With helium prices approaching $145 USD/1,000 scfg in the USA, helium production and sales are regarded as an intrinsic part of this overall strategy. Apart from conventional gas reservoir potential, the Company has had independent estimates of over 10,000 trillion cubic feet in UCG “syngas” prospective recoverable resources and as well has produced inhouse estimates coupled with external independent reports of up to c.200 trillion cubic feet of gas in CSG and other unconventional reservoirs. Prospective recoverable resources of oil are in the billion barrel class.

The acreage includes the majority of the Pedirka Basin in the Northern Territory and in South Australia, the majority of the Amadeus Basin in the Northern Territory, all of the known Lander Trough in the Northern Territory and approximately 25,000 km2 of the Southern Georgina Basin.

The Company was formed by Mr John Heugh and Mr Richard Faull in 1998 in a countercyclical strategy aimed at securing large acreage tracts with very large targets in prospective areas of strategically well placed parts of central Australia and later to examine potential for the monetization of gas resources via Gas to Liquids (GTL) Fischer Tropsch and LNG technology in the production of zero sulphur diesel, naphtha and jet fuel.

* Robust exploration programme underway 2009/10
* Listed on the ASX March 2nd 2006
* Genesis of the Company 1998 when oil traded at $12/bbl
* Biggest acreage portfolio in Australia 60 million acres 100% operated
* Whole of basin exploration opportunities
* “Yet to find” Amadeus resources unrisked up to 35 TCFG or 6 billion bbls (NTGS 2005)
* CSG prospective recoverable resources Pedirka Basin 34–70 TCFG (P90–P10-subject to ongoing review)
* Horn Valley Siltstone unconventional shale gas and oil potential 12–90 TCFG UGIIP and 10 Bn.bbls respectively
* Trillion tonne coal Exploration Target Pedirka Basin
* Billion bbl and multi TCFG unconventional potential Southern Georgina Basin
* Helium potential of up to 200 BCFG Helium in UGIIP Mt Kitty Prospect alone
* Over 200 prospects and leads
* Long range GTL plans for gas, 10,000–140,000 bbl/day pre–feasibility studies completed
* Recently completed (Jan 2004) infrastructure direct link to Port Darwin, and existing pipeline to Darwin–possible entry to LNG potential
* Experienced management and Board
* Good risk spread in different basins, different play types and different commodity marketing targets ie gas, oil, condensate, diesel, naphtha, jet fuel and Helium
* Dramatically underexplored given an average discovery success rate of over 4 MMboe per exploration well thus far in the Amadeus and with an average well density of c. 1 well per 5,000 square kilometres (1.2 million acres)
* Current Joint Venture participants include Petroleum Exploration Australia Limited (now owned be QGC, a BG Group Business, Trident Energy Limited, He Nuclear Limited and Red Sky Energy (NT) Pty Ltd, a wholly owned subsidiary of Red Sky Energy Limited.

Mine For

coal bed methane, geothermal energy, oil, gas, helium

Location of operation(s)

Northern Territory, South Australia, Queensland, Western Australia

Australian Basins

Wiso, Georgina, Pedirka, Amadeus

Address

Suite 3, Level 4, Southshore Centre, 85 The Esplanade
SOUTH PERTH, WA, AUSTRALIA

Phone

08 9474 1444

Email

Website

http://www.centralpetroleum.com.au

Last Updated

28/04/2010