1. 2.2k

    Yep, a big and unexpected surprise.

    And CTP requested it...........................GO FIGURE.!!

    Read below:

    Development of Queensland Gas Tenement Acreage On Hold
    27 March 2020
    Incitec Pivot Limited (ASX: IPL) today announced that the 50/50 joint venture project
    concerning the coal seam gas acreage (ATP 2031) in Queensland’s Surat Basin has been
    temporarily paused at the request of its partner Central Petroleum Limited (ASX: CTP). The
    oil and gas sector has been significantly impacted by logistical disruptions caused by the
    COVID-19 pandemic, as well as significant disruptions to the global oil and domestic gas
    “IPL and CTP remain committed to the domestic gas project and look forward to restarting
    activities on the planned three-well production pilot as soon as possible”, said Jeanne Johns,
    IPL Managing Director & Chief Executive Officer.
    IPL’s gas supply agreement with CTP, for the supply of natural gas to IPL’s Gibson Island site
    in Queensland ended in December 2019. Gas supply from Australia Pacific LNG will meet the
    plant’s needs from 1 April 2020 through to 31 December 2022. ##""

    Good luck to all and sundries.

    1 like
  2. 1.8k

    Everything on hold to protect their big salaries...total scumbags

    1 like
  3. 1.6k

    What did you expect???????????.

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