Chelsea Oil and Gas Ltd. (fka COGLF)

[eom7]

This is great...


This past year has been the most productive one in Central’s history. It included
commencement of oil production from Surprise, purchase of the Magellan assets which
transformed us into a gas and oil producer, encouraging results from the Mt Kitty well, the
commencement of development at Dingo, the recovery of gas saturated cores at Gaudi over
a 300 metre interval in the rich Arthur Creek Shale and, more recently, the signing of a 15
PJ/year gas sales heads of agreement over ten years with Incitec Pivot. Our Managing
Director has also worked tirelessly in conducting high-level discussions with the Northern
Territory Government and others, promoting the gas interconnect to the East Coast. We
believe the pipeline will give a significant boost to value of Central.


http://www.centralpetroleum.com.au//IRM/Company/ShowPage.aspx/PDFs/1959-13189140/ChairmansAddresstoShareholders