CTP - Central Petroleum

[ravishankaray]

ASIC what a joke, they was given CVI on a plate, they had all the info to lock some one up, what did they do, NOTHING, CTP is trading at what it's worth, I see that the top ramper has unloaded a lot of his shares,you have a merry Xmas and a happy new year.

Merry Xmas to you and family too.

There is litigation against one from TS, maybe 242, AODeath ???? wouldn't surprise me.
At least when JH was in charge, the company was making small steps and shareholders fully involved along the way, ie, the SPP's allowed me to get my buy in price from about 20c down to 10c, ($1 - 50c).
Can't see any future for this company within at least 5 years, but now down too far to get out, and just sh..s me that agenda changed once the new bloke settled in with all snouts you know where.
No matter you say no oil in Amadeus, (from memory), still think should have been given the chance and proven one way or other, and drilled like company was supposed to do.
No CTP/AKK threads until early Jan, TS advises.

 

[greggles]

Central Petroleum has been on the move since 1 March when it was selected as the preferred bidder for the Queensland Government's tender for acreage (PLR201718-1-1) dedicated to domestic market. The acreage is located 28kms north-west of Miles.

Central Petroleum and Incitec Pivot are seeking to establish a 50:50 joint venture for the acreage with
IPL providing up to $20 million of funding for exploration and appraisal of the acreage.

 

[Ann]

15th Aug 2013

CENTRAL CONSOLIDATES SHARES

Central Petroleum Ltd (ASX: CTP) (“Central” or “Company”) today announced a 5:1
consolidation of its shares as a final step in the restructuring of the Company. The
consolidation is dependent on receiving shareholder approval at a General Meeting to be
held at its Brisbane Headquarters at 10.30 am on 27 September 2013. The Notice of Meeting
does NOT seek shareholder approval to be able to issue more stock.
Central Petroleum Managing Director Richard Cottee said: “The Central Petroleum Board
believes that consolidating the number of Central shares on offer will help transform the
Company from a speculative explorer to a long-term institutional-grade investment.
“Central Petroleum is set to embark on a series of potentially transformative drilling programs
in the next 12 months that could place Central on the edge of becoming a continuing oil
producer. As such, it is our view that a consolidated share register is more reflective of the
Company’s status and profile as an independent oil and gas producer and developer.
“At this time last year, the Company had a capital structure that would not support the rapid
growth necessary for Central to aspire to become an ASX 100 company. Central had a threefold
problem: we had insufficient funding to cover the capital requirements of our minimal
exploration expenditure, an unhealthy balance sheet due to excess spending, and an equity
register with some shareholders whose focus was not the long-term success of the Company.
“Through farmouts to Total and Santos, the Company now has sufficient access to capital to
satisfy drilling commitments. The balance sheet has been improved by reducing cash burn by
two thirds from $1.5 million per month 12 months ago, to a current rate of $1.5 million per
quarter.
“It is my belief that the Company needs patient, supportive shareholders looking for returns
over the two year horizon rather than the two hour horizon. The recent placement coupled
with this share consolidation is aimed at delivering this stability.”
The resolution at the General Meeting will propose that every five (5) ordinary shares held by
a shareholder be converted into one (1) ordinary share (subject to rounding). If the resolution
is passed, the number of ordinary shares and options on issue and the exercise price of the
options will be adjusted in accordance with the ASX Listing Rules.
Further information in relation to the proposed share consolidation, including the timetable for
the consolidation, is provided in the attached Notice of General Meeting and Explanatory
Statement which is planned to be dispatched shareholders shortly.

This is very old news about a share Consolidation done back in 2013. What I found extraordinary was there was no mention of it anywhere on the headlines for the ASX and when I googled to see if there was any mention...nothing I found. I also can't see any chart adjustment for the Consolidation either. Thank you very much to the person who notified me by PM, not sure if I should mention names but a big thumbs up to you for the alert.

WEALTH WARNING: This stock has been subject to a Consolidation in the past and may at some time in the future cause you to lose all your invested capital. Better value elsewhere.

 

[Smurf1976]

An announcement today regarding the proposed Amadeus to Moomba pipeline.

https://www.marketscreener.com/CENT...leum-Amadeus-to-Moomba-Gas-Pipeline-31135843/

As background, there's an existing pipeline which runs from the company's gas fields in the southern part of the NT through to Darwin and historically (since the 1980's) that pipeline and the Amadeus Basin fields supplied all of the NT's gas.

Since then, other fields (not operated by CTP) developed offshore have added supply at the northern end meanwhile a link has been built from that pipeline to Mt Isa in Queensland.

A present major bottleneck exists between Queensland and Moomba (SA). A pipeline exists but is of limited capacity relative to consumption in the south-eastern states and potential flows through that pipeline from producers in the NT and Qld. Moomba is linked through to Adelaide and through to Sydney and Canberra and, via other pipelines, ultimately also Victoria and Tasmania.

This map isn't from CTP but it shows the present pipelines. The new one would run from the southern end of existing pipelines in the NT to the north-eastern corner of SA at Moomba.

https://www.energycouncil.com.au/analysis/gas-in-australia-where-is-it-now-and-where-is-it-going/

Putting some figures on that:

Existing pipeline NT to Mt Isa = 90 TJ / day capacity.

Existing pipeline Queensland to Moomba (SA) = 404 TJ / day.

New proposed pipeline = 124 TJ / day from NT to Moomba.

So it's a significant increase in capacity both between the NT and anywhere else, and between NT+Qld collectively to the south-eastern states. That provides a greater market for the company's gas as well as potentially transporting gas produced by others.

Putting the size of the south-eastern market into perspective, average daily consumption for NSW, Vic, ACT, SA, Tas combined over 12 months is about 1500 TJ with peak consumption in winter exceeding 2000 TJ / day.

So the company's proposed pipeline is significant but not to the point of saturating the market etc.

 

[barney]

An announcement today regarding the proposed Amadeus to Moomba pipeline.

Know nothing about this one but I see their Market Cap is just under $70 million with $25 million in Cash.

Quick look shows current debt around $72 million but they paid over $9 million off during last half year so their eps is healthy.

Don't watch many Oiler now days but this one looks to be going ok given recent events.

ps I think the above figures are close but anyone watching the Stock should verify for themselves

 

[frugal.rock]

Time for a revisit, in my opinion.
Helium may just upright and float the boat shortly.
We need a dedicated helium thread. I will remain inert though.
The forum is a bit light on the noble gas and squeaky clean of relevant threads.

Australia's only helium plant shuts down after gas supply for Darwin plant runs out

Australia will now import all its helium after the only production plant in the southern hemisphere shuts down.

www.abc.net.au

 

[divs4ever]

Time for a revisit, in my opinion.
Helium may just upright and float the boat shortly.
We need a dedicated helium thread. I will remain inert though.
The forum is a bit light on the noble gas and squeaky clean of relevant threads.

View attachment 167010

Australia's only helium plant shuts down after gas supply for Darwin plant runs out

Australia will now import all its helium after the only production plant in the southern hemisphere shuts down.

www.abc.net.au

you are pretty well screwed if CTP is your last best hope for anything ( except more pocket mining )

i have been watching it with morbid fascination for almost ten years

will say one thing nice about CTP , when they signed the supply agreement with IPL , i took it as a warning and dumped IPL crystallizing a small profit ( @ $3.30 )in 2015

 

[frugal.rock]

At the time div's, the only point of interest was the helium side of things as stated, which may or may not turn out ok.

No idea on financials or anything else, more.
Not held.
Speculative chart, bottom may be in, or not.

 

[divs4ever]

At the time div's, the only point of interest was the helium side of things as stated, which may or may not turn out ok.

No idea on financials or anything else, more.
Not held.
Speculative chart, bottom may be in, or not.

View attachment 168183

watched this years back as an education vehicle , not as bad as CDU ( Cudeco ) but plenty of lessons to learn in this one's history

 

[divs4ever]

Proposed share sale facility for holdings of less than a marketable parcel

Further to today's earlier update on the Strategic Review undertaken by Central Petroleum Limited (“Central” or “Company”) (ASX:CTP), Central announces that it intends to establish a share sale facility for holders of less than a marketable parcel (being a parcel of fully paid ordinary shares in the Company with a market value of less than A$500) in accordance with Rule 81 of its Constitution.
While Central values each of its shareholders, a reduction in the number of small shareholdings in the Company will allow Central to achieve cost savings by reducing ongoing administrative, registry, printing and mailing costs.
The establishment of a sale facility of this kind will also provide an opportunity to investors with small holdings to sell shares without having to use a broker or pay brokerage, and the Company will pay for all the costs of the sale for shareholders who use this facility, excluding tax consequences from the sale.

Further details about the proposed facility will be provided shortly.

the hallmark of a successful company culling out the small shareholders to save mailing and administration costs

( what a shame you didn't do that after the unsuccessful MacQuarie offer )

 

[divs4ever]

Details of Central's Small Parcel Share Sale Facility

Central Petroleum Limited (“Central” or “Company”) (ASX:CTP) announced on 6 February 2024 its intention to establish a share sale facility for holders of less than a marketable parcel (being a parcel of fully paid ordinary shares in the Company with a market value of less than A$500) ("Small Parcel") in accordance with Rule 81 of its Constitution.

Further to that announcement, Central is pleased to announce that it has established a share sale facility ("Sale Facility") to enable holders of a Small Parcel to have their shares sold without incurring brokerage or handling fees.
The Sale Facility will also enable Central to reduce the ongoing administrative costs associated with maintaining a large number of shareholders on its shareholder register.
Shareholders who held a Small Parcel at 7:00 pm Brisbane time on 16 April 2024 ("Record Date") will be eligible to participate in the Sale Facility ("Eligible Shareholder").
Based on the closing price of Central shares on the Australian Securities Exchange ("ASX") on the Record Date of $0.06 per share, a Small Parcel is a registered shareholding of 8,333 or less shares in Central.
Eligible Shareholders will be sent a letter that contains important information about the Sale Facility and a Share Retention Notice Form.

Eligible Shareholders who wish to take advantage of, and sell their Small Parcel through, the Sale Facility do not have to take any action and will receive the average price for all shares sold under the Sale Facility.
Eligible Shareholders will also have the ability to OPT-OUT of participating in the Sale Facility.

Those Eligible Shareholders who wish to retain their shareholding must give the Company written notice by completing and returning the Share Retention Notice Form to the Company’s share registry, Computershare by 5:00pm Brisbane time on 5 June 2024.

i do not hold this share

just in time for badly burnt shareholders to crystallize their tax-loss in a loss reducing manner ( no exit brokerage )