Central Petroleum Limited
(ASX:CTP) (“Central” or the “Company”) has pleasure in announcing that it has committed to the services of Canaccord Genuity Corp. and Cormark Securities Inc. for them to act as financial advisors for Central’s proposed listing on the TSX Venture Exchange (TSXV) in Q4 2011 – Q1 2012.
“These two groups are among the most experienced and successful investment banks dealing in the energy sector in the Canadian market” John Heugh, Central’s Managing Director, said today. “There is a considerable share price disparity between Central’s stock and relative to other TSXV listed companies with a central Australian focus but with much smaller prospective acreage packages. We believe Central is considerably undervalued in the central Australian context.”
The Company has generated considerable interest from North American investors via a series of presentations to investment banks and funds and aims to follow through on this interest to access a the large energy market sector there, in addition to the ASX.
There has been growing interest in unconventional exploration and development globally in recent years and much of that interest is coming from North America generally and the TSX market in particular. Exploration and farmin plans announced by Rodinia Oil, Hess Exploration, PetroFrontier, TME Resources, Mitsubishi and ConocoPhillips have excited interest in very large regional frontier basin areas in Australia. The recently published booking by Beach Petroleum of 2 TCFG in contingent unconventional reserves in the Cooper Basin has given further impetus to an already buoyant unconventional sector in Australia.
Central aims to selectively and progressively farmout portions of its vast acreage by capitalising on a perceived trend for farmout deals to become progressively richer as exploration success boosts the value of unconventional acreage in central Australian basins.
The Toronto Stock Exchange is the largest market in the world for mining and resource stocks in terms of dollars invested and number of companies.
