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Central Petroleum has released its Interim Report for the half year ended 31 December 2021, reporting a net profit after tax of $30.5 million and underlying EBITDAX of $10 million. The statutory profit included a $36.6 million profit on the partial sale of the Amadeus Basin production assets and exploration costs of $10.1 million.
Central Petroleum, Australian Gas Infrastructure Group (AGIG) and Macquarie Group have signed a memorandum of understanding (MoU) to progress towards a final investment decision (FID) for the development of the Amadeus to Moomba gas pipeline (AMGP) project.
Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises it has today completed the sale of 50% of its interests in its Amadeus Basin producing gas and oil fields to New Zealand Oil & Gas Limited (ASX:NZO) (NSE::NZO) and Cue Energy Resources Limited (ASX:CUE).
New Zealand Oil and Gas and Cue Energy have picked up 50% interest in Central's three producing fields in Australia's Northern Territory.
Central Petroleum Limited (ASX:CTP) Project Range Update Three Well Pilot Program All three wells have been operating continuously since commencement of pumping on 14 June 2021. Well drawdown was gradually increased via a controlled reduction in the fluid level, which is now just above the pumps. Gas breakthrough was observed in the annulus immediately upon commencement of pumping. This was earlier than expected and indicates the presence of coals that are fully saturated with gas. Shortly after pumping commenced, sufficient gas was being produced to sustain the flare. After around f...