Central Petroleum Limited (ASX:CTP) Quarterly Activities Report
Highlights
- Cash balance at the end of the June quarter (the quarter) was $37.2 million, compared to the $37.7 million balance at 31 March 2021, reflecting:
- $5.2 million net cash flow from operations (before exploration and finance costs)
- Ongoing exploration activity ($1.6 million expended) including the Range pilot drilling and completion and the acquisition of long lead items for the forthcoming two well exploration program in the Amadeus Basin
- Commencement of the Mereenie Development Program, with four well recompletions undertaken and commencement of drilling for the first of two new production wells (included in $2.1 million of capital expenditure)
Central Petroleum Limited (ASX:CTP) Quarterly Activities Report & Appendix 5B
OTCMKTS:CNPTF) provide the quarterly activities report & Appendix 5B for the March quarter.
- Cash balance at the end of the March quarter (the quarter) was $37.7 million, compared to the $38.5 million balance at 31 December 2020, reflecting:
- $7.4 million net cash flow from operations (before exploration and finance costs) which includes $2.9 million under the take or pay provisions of gas supply contracts for CY2020
- Increased exploration activity ($2.5 million expended) as the Range pilot drilling campaign commenced
- Preparations for commencement of the Mereenie Development Program (included in $2.0 million of capital expenditure)