Company Profile
Central Petroleum is an ASX listed junior exploration and production company operating what is regarded as the biggest package of prospective acreage in Australia. The Company gained admission to the Official List of the ASX on March 3rd 2006 with shares and options commencing to trade on Tuesday the 7th March. The acreage has been assembled since 1998 when the Company was first formed as Merlin Synergy NL.
The acreage includes the majority of the Pedirka Basin in the Northern Territory and in South Australia, the majority of the Amadeus Basin in the Northern Territory, all of the known Lander Trough in the Northern Territory and approximately 10,000 km2 of the Southern Georgina Basin.
The Company was formed by Mr John Heugh and Mr Richard Faull in 1998 in a countercyclical strategy aimed at securing large acreage tracts with very large targets in prospective areas of strategically well placed parts of central Australia and later to examine potential for the monetization of gas resources via Gas to Liquids (GTL) Fischer Tropsch technology in the production of zero sulphur diesel, naphtha and jet fuel.
The recent completion of the Alice Springs to Darwin rail link is a major factor behind the Company’s decision to acquire 100% of the unlisted companies Ordiv Petroleum Pty Ltd, Helium Australia Pty Ltd and Frontier Oil and Gas Pty Ltd, delivering to the Company over 80,000 km2 of prospective ground in the Amadeus Basin surrounding the Santos/Magellan producing fields of Mereenie and Palm Valley.
Corporate Goal
The Corporate Goal of the Company is “to become the predominant producer of petroleum and value added products in a central Australian energy hub.”
Business Strategy
The Company aims to achieve its Corporate Goal by:
- Consolidation of prospective acreage
- Focus on big targets
- Early oil target monetisation via existing infrastructure
- Application of value adding technology-GTL
- Farmouts/joint ventures
