Central Petroleum Reports Profit Drop in Jul-Dec
Australian explorer Central Petroleum on February 23 reported a net profit of A$2.5mn (US$2mn) during the six months to December 31 (H1), down 20.7% year/year owing to lower product prices and reduced sales volume.
The company’s gas sales volume was 4,890 terajoules, down from 6,863 terajoules while 0il and condensate sales volume dropped 23.9% yr/yr. Sales revenue was down 19% yr/yr.
Meanwhile, the company said that Santos, which operates the Dukas prospect in EP112 in the Northern Territory’s Amadeus basin, requires further time to complete technical studies before a proposal can be put forward in relation to further drilling.