Central Petroleum Ltd.

Central Petroleum Ltd. is pleased to advise that its gas sale Expression of Interest process has successfully concluded after targeting bids from across the Northern Territory and the east coast where potential gas shortfalls were forecast over the next few years. Central's objectives for the EOI process were to lock in firm gas prices under current market dynamics in order to generate higher cash flows from firm [...]

Central Petroleum Ltd. will hold an online presentation on Wednesday, 27 September 2023 commencing at 10:00am AEST. Managing Director & Chief Executive Officer, Mr Leon Devaney, and CFO, Damian Galvin, will cover Central's 2023 Annual Results and provide an update on recent activities. Attendees will be provided an opportunity to submit questions for a Q&A session to occur at the completion of the presentation [...]

Central Petroleum Ltd. today announces that its existing two year GSA with South32 has been extended for a further 12 months to include supply of an additional 0.36 PJ of gas in 2025. The GSA is for firm gas supply to Mt Isa, with take-or-pay provisions and a price that escalates with the consumer price index. Gas supplied under the GSA will be aggregated with existing Mereenie gas supply from MM, NZOG and Cue in order to [...]

Central Petroleum Ltd. refers to the announcement dated 12 September 2023 regarding the status of the Peak Helium Pty Ltd farmout. Following Peak Helium's failure to comply with statutory demands within the period for compliance, relevant Central subsidiaries as farmor parties to the Peak Helium farmout agreement have terminated the agreement in accordance with its terms. The relevant subsidiaries will now commence the [...]

Central Petroleum Ltd. today released its Annual Report for the financial year ending 30 June 2023. Underlying Earnings Before Interest, Tax, Depreciation, Amortisation and Exploration was $15.7 million, on revenues of $39.3 million which reflected strong oil and gas prices. Net loss after tax was $8.0 million, including $13.1 million of exploration expenses. Highlights for the financial year - Solid operating results o [...]

Central Petroleum Ltd. is an ASX-listed oil and gas producer, with a portfolio of producing and prospective tenements across the Northern Territory and Queensland. Central is the operator of the largest onshore gas producing fields in the NT, supplying industrial customers, electricity generators and senior gas distributors from three producing fields near Alice Springs. The Group added an additional 5.9 PJ of Proved and [...]

Central Petroleum Ltd. advises that it has entered into a Memorandum of Understanding with its Mereenie co-venturers and Twin Bridges LLC , a private US company specialising in helium appraisal and production, to progress a helium recovery unit at its Mereenie field in the Northern Territory towards a final investment decision . The proposed HRU project will target production of up to 60,000 scf of compressed helium gas [...]

Central Petroleum Ltd. Reserves upgrade at Palm Valley and Dingo fields: Proved and Probable reserves total 75 PJe, an upgrade of 8% as a result of the successful Palm Valley 12 well and updated modelling for the Dingo field. Sales volumes: o June quarter: 1.3 PJe were slightly lower than the prior quarter, down 4% largely due to a temporary outage of the Northern Gas Pipeline in April. o FY2023: 4.8 PJe, down 3% on a [...]

Central Petroleum Ltd. has reported an upward reserve adjustment of 8% in its Proved and Probable gas reserves, reflecting recent drilling and production results at Palm Valley and updated reservoir modelling at the Dingo field. The updated reserves for the Palm Valley and Dingo fields as at 30 June 2023 have been certified by the internationally recognised petroleum consultants Netherland, Sewell & Associates, Inc [...]

Central Petroleum Ltd. advises that Peak Helium Pty Ltd has overdue payments of over $3 million under the farmout agreement with Central following the completion announcement made on 31 March 2023. Noting this failure to pay, Central has formed the view that Peak Helium may not be able to fund obligations under its various farmin arrangements which puts the future of the planned three well sub-salt exploration program for [...]