CTP central petroleum limited

Ann: Annual Results, page-2

  1. 431 Posts.
    lightbulb Created with Sketch. 55
    'Announcing Central’s first shareholder returns, through an on-market share buy-back
    starting in September 2025.
    “These improved results are a reflection of the substantial transformation we have achieved
    in the past five years”, said Leon Devaney, CEO and Managing Director. “Our strengthened
    financial position provides an opportunity to consider multiple pathways for near-term value
    enhancement - whether through production expansion, targeted exploration, mergers and
    acquisitions, early debt repayment, or the introduction of sustainable dividends”, he said.'


    There is no date on the buy back start in the document, just 'September 2025'. Although the financial position has improved, I wouldn't buy anything until I heard the CEO address next week and some more clarity on exactly what they plan to do going forward. The thought of CTP undertaking an acquisition or merger at this point, given their track record regarding identifying 'credible partners' for farmouts, drilling etc, would make my stomach eat itself.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.