CTP 1.92% 5.1¢ central petroleum limited

Negative market reaction to Qtly Ann., page-2

  1. 175 Posts.
    lightbulb Created with Sketch. 4
    This is blatant down ramping guys... Get a grip.

    "Successful completion of the Mereenie Upgrade Project in advance of commencement of theoperation of the Northern Gas Pipeline (“NGP”) and within budget.• Palm Valley field successfully restarted prior to commencement of the operation of the NGP andremains on budget. Field production is currently around 8 TJ/d with this expected to increaseonce one existing well and the PV 13 well are brought online.• Santos has completed the seismic works as part of the Southern Amadeus Stage 2 farmout andelected to proceed to Stage 3 by drilling a well in EP112 to earn a 70% participating interest inthe permit. A drilling location for the Dukas-1 well has been selected (free carry for Central underthe farmout), with drilling anticipated to commence in the first half of 2019.• During the quarter, Netherland, Sewell and Associates, Inc. (NSAI), completed their estimate ofthe Company’s petroleum reserves and contingent resources for the 100% owned Palm Valleyand Dingo Fields and for the 50% owned Mereenie Oil and Gas Field. Company oil and gasreserves (net to Central) have increased substantially, with Proven (1P) gas reserves increasing65% to 134PJ and Proven and Probable (2P) gas reserves increasing 37% to 169PJ"

    Just need to read the quarterly. Coming online and reaching full capacity are two different things. Your just speculating... 
 
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