Central Petroleum Limited (ASX:CTP) Half Year Results - Reports $2.5 Million Net Profit
Half Year Results: Central reports strong cash position and $2.5 million net profit
Half Year Results - Reports $2.5 Million Net ProfitBrisbane, Feb 23, 2021 AEST (ABN Newswire) - Central Petroleum Limited (
OTCMKTS:CNPTF) today reports a net profit after tax of $2.5 million for the half year to 31 December 2020, continuing solid financial performance despite the market downturn experienced in 2020. This is up 15% on the previous half year due to lower exploration activity, corporate cost savings and lower interest and depreciation charges.
Earnings Before Interest, Tax, Depreciation, Amortisation and Exploration was $12.9 million, This is an increase of 51% on the previous six months to 30 June 2020 excluding the benefit of the $7.7 million settlement for the transfer of a 50% interest in the Range CSG Project, reflecting our effective term-gas contracting strategies, cost containme
Central Petroleum Limited (ASX:CTP) Dukas Progress Update
OTCMKTS:CNPTF) has been advised by Santos QNT Pty Ltd (
ASX:STO) as the Operator of the EP112 Joint Venture ( EP112 JV ) (Santos 70% / Central 30%) that it requires further time to complete technical studies before a proposal can be put forward for EP112 JV approval in relation to further drilling at the Dukas prospect. No definitive guidance has been provided by Santos in relation to timing for EP112 JV approval on the Dukas drilling program.
As Central announced on 16 July 2020, the intention of the EP112 JV was to make a decision on the Dukas drilling program by the end of 2020. Central is disappointed that no drilling proposal has been put forward but recognises the need for technical confidence when contemplating such a costly onshore well. A decision on the Dukas drilling program remains outstanding at this time.
Why CSL, LiveTiles, OceanaGold, & Woodside shares are tumbling lower
James Mickleboro | February 19, 2021 12:23pm |
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The
S&P/ASX 200 Index (ASX: XJO) looks set to end the week with a decline. In afternoon trade, the benchmark index is down 0.75% to 6,833.8 points.
Four ASX shares that have fallen more than most today are listed below. Here’s why they are tumbling lower:
The CSL share price is down over 2.5% to $281.65. This appears to be due to a mixed response to its half year results yesterday. While analysts at Goldman Sachs were impressed with its stellar profit growth in the first half, they were surprised that this didn’t lead to an upgrade to its full year guidance. This has the broker concerned and led to it downgrading CSL’s shares to a neutral rating with a $305.00 price target.
Pakistan Stock Exchange Announces Top 25 Companies Awards Recipients
National
February 10, 2021
Karachi: In a year full of events and developments, some positive and some challenging, Pakistan Stock Exchange has announced the recipients of the Top 25 Companies Awards for the year 2019. As per tradition, the criteria for selecting such companies was also updated and upgraded in 2019 in line with the evolving business environment and requirements.
The Top 25 Companies Award is a tradition at Pakistan Stock Exchange which goes back to 1978.
On the announcement of the Top 25 Companies Awards recipients, the MD & CEO of Pakistan Stock Exchange, Mr. Farrukh H. Khan, stated, “Top 25 Companies Award is the most prestigious recognition of overall corporate performance in Pakistan. I would like to congratulate all the companies that have achieved this distinction for 2019.’’
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