Net proved (1P) gas reserves were 123.30 PJ and net proved (1P) oil reserves were 0.77 mmbbl at 30 June 2020. Following completion of the sale of 50% of Central’s interests in the Mereenie, Palm Valley and Dingo fields, Central’s 1P gas reserves were 59 PJ, and 1P oil reserves were 0.38 mmbbl.
Net proved plus probable (2P) gas reserves were 155.60 PJ and net proved plus probable (2P) oil reserves were 0.97 mmbbl at 30 June 2020 (75 PJ and 0.49 mmbbl respectively after completion of asset sale).
| AGGREGATE RESERVES (Central Petroleum Share) | |||
|
Unit |
30/06/2020 (before asset sale) |
30/06/2020 (after asset sale) |
|
| Oil | |||
| Proved reserves 1P | mmbbl | 0.77 | 0.38 |
| Proved plus probable reserves 2P | mmbbl | 0.97 | 0.49 |
| Contingent Resources 2C | mmbbl | 0.10 | 0.05 |
| Gas | |||
| Proved reserves 1P | PJ | 123.30 | 59.50 |
| Proved plus probable reserves 2P | PJ | 155.60 | 75.70 |
| Contingent Resources 2C | PJ | 239.90* | 187.45* |
| RESERVES PER FIELD (Central Petroleum Share) | |||
|
Unit |
30/06/2020 (before asset sale) |
30/06/2020 (after asset sale) |
|
| Mereenie, oil | |||
| Proved reserves 1P | mmbbl | 0.77 | 0.38 |
| Proved plus probable reserves 2P | mmbbl | 0.97 | 0.49 |
| Contingent Resources 2C | mmbbl | 0.10 | 0.05 |
| Mereenie, gas | |||
| Proved reserves 1P | PJ | 69.30 | 32.55 |
| Proved plus probable reserves 2P | PJ | 91.80 | 43.80 |
| Contingent Resources 2C | PJ | 91.20 | 45.60 |
| Palm Valley | |||
| Proved reserves 1P | PJ | 24.70 | 12.35 |
| Proved plus probable reserves 2P | PJ | 27.70 | 13.85 |
| Contingent Resources 2C | PJ | 13.70 | 6.85 |
| Dingo | |||
| Proved reserves 1P | PJ | 29.30 | 14.65 |
| Proved plus probable reserves 2P | PJ | 36.10 | 18.05 |
| Contingent Resources 2C | PJ | – | – |
| Range | |||
| Contingent Resources 2C | PJ | 135.00* | 135.00* |
* Range 2C Resources are as at 15 August 2019
Note: Estimates may not arithmetically balance due to rounding
Reserves – The oil and gas reserves included in this report are net to Central as at 30 June 2020 for Mereenie, Dingo and Palm Valley. These reserves were first reported to the market on 24 July 2020.
Contingent resources – The contingent gas resources included in this report are net to Central and as at 30 June 2020 for Mereenie and Palm Valley and as at 15 August 2019 for the Range Gas Project and were first reported to the market on 24 July 2020 for Mereenie and Palm Valley, and 21 August 2019 for the Range Gas Project.
Central Petroleum Limited is not aware of any new information or data that materially affects the information included in this presentation and confirms that all the material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.