Central Petroleum Limited (CPTLF) Dingo Gas Delivered into Owen Springs Power Station
Brisbane, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) ("Company" or "Central") today announced that the physical tie-in to the Owen Springs Power Station by the customer is being commissioned and Dingo gas has therefore passed the Delivery Point under the Gas Supply and Purchase Agreement (GSPA).
Central completed its Dingo Gas Project pipeline and plant before 1 April 2015 on time and under budget with production subject to tie-in by the customer to the Company's delivery point at Owen Springs Power Station.
Under the GSPA, the Take or Pay provision was triggered effective 1 April 2015 and therefore over $2.5 million of revenue will be paid in January 2016.
About Central Petroleum Limited:
Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) is an ASX listed junior exploration and production company operating the largest holding of prospective onshore acreage in Australia totalling over 270,000 km2, c.70 million acres. This acreage includes permits already awarded and acreage under application with 250,000 km2 under the Petroleum Acts and 20,000 km2 under the Mining Acts mainly in the Northern Territory with smaller holdings in Western Australia, South Australia and Queensland.
Central Petroleum Limited
Martin Debelle at Citadel-MAGNUS
T: +61 (0)2 8234 0100
M: +61 (0)409 911 189
Source: ABN/Asia Business Newswire
(December 16, 2015 - 6:29 PM EST)
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