Central Petroleum Limited (ASX:CTP) Quarterly Activities Report
Highlights
- Cash balance at the end of the June quarter (the quarter) was $37.2 million, compared to the $37.7 million balance at 31 March 2021, reflecting:
- $5.2 million net cash flow from operations (before exploration and finance costs)
- Ongoing exploration activity ($1.6 million expended) including the Range pilot drilling and completion and the acquisition of long lead items for the forthcoming two well exploration program in the Amadeus Basin
- Commencement of the Mereenie Development Program, with four well recompletions undertaken and commencement of drilling for the first of two new production wells (included in $2.1 million of capital expenditure)