My best guess is that it looks like things are proceeding according to the comment made at the webinar on joint venture approvals for:-
- 63TJ/day Surface Facilities upgrade… possibly FID if they are confident of the gas and hopefully this can be covered by MAC matching CTP’s $10M.
Comment @ 7:27 in the Webinar..
7:27 We have existing reserves at Mereenie, without the stairway, that can
produce 5 to 7 years worth of NGP capacity.So that’s why we were confident enough to order the long lead time items but clearly the FEED (That is the total Front End Engineering and Design) will be completed next month and we will be taking FID (Final Investment Decision) in April and obviously that will be clearly influenced with the ease with which we can commercialise the gas which is code for the joint marketing decision on the ACCC.
02/03/18 Announcement…
“Central will convene a joint venture meeting as quickly as possible to seek approval of the joint venture to allow the drilling at West Mereenie-26 to go ahead as scheduled, as well as the plant upgrade aimed at increasing processing capacity to around 63 TJ/d gross, of which 4 TJ/d will be used as fuel gas.”
09/03/18 Trading Halt Request…
Pursuant to ASX Listing Rule 17.1, Central Petroleum Limited (“Company”) (ASX:CTP) requests a trading halt to its securities effective immediately, pending an announcement to be made by the Company regarding joint venture approvals referred in the Company’s announcement titled "ACCC Approves Joint Marketing" dated 2 March 2018.
Regards
OGP
