Central Petroleum Ltd.

Central Petroleum Ltd. advises that as at 0600 hrs ACST on 17 October 2022 the Palm Valley 12 sidetrack in OL3 was in the process of being completed as a gas producer after flowing gas on test at approximately 11.8 million standard cubic feet per day . Prior to commencing completion operations, an indicative flow test through the rig was conducted for 187 minutes. The well reached stable flow after 5 minutes and flowed at [...]

Central Petroleum Ltd. refers to its announcements regarding the Peak Helium farmout transaction. The conditions precedent satisfaction date for the Peak Helium farmout is currently 12 October 2022. Peak Helium have recently advised Central that the assessment of stamp duty for the farmout agreement has now been finalised with the Northern Territory Government. This will facilitate completion of the remaining conditions [...]

Central Petroleum Ltd. advises that as at 0600 hrs ACST on 10 October 2022 the Palm Valley 12 sidetrack in OL3 was undergoing clean-up flows in preparation for a further flow test. The well reached a total depth of 3,039m measured depth on 8 October 2022. After flow testing is complete, operations will commence to run production tubing and complete the well as a gas producer. The PV12 ST2 well is being drilled under a [...]

Central Petroleum Ltd. advises that as at 1400 hrs ACST on 2 October 2022 Palm Valley 12 sidetrack in OL3 had progressed to a measured depth of 2,598m. At that time a decision was made to change the drilling bit and take the opportunity to conduct an interim flow test. The depth of the interim test interval is 1,870 metres to 2,598 metres MD . The well was tested through a 1 inch orifice plate and stabilized after 3 [...]

Central Petroleum Ltd. advises that RBC Capital Markets has been appointed as exclusive advisor to undertake a strategic review of the Company's asset portfolio and transactional opportunities that may arise to crystalise asset value. The review will assess options for the Company's extensive portfolio of exploration, appraisal and production assets and examine further opportunities in the context of the current market [...]

Central Petroleum Ltd. will hold an online presentation on Wednesday, 21 September 2022 commencing at 10:00am AEST. Managing Director & Chief Executive Officer, Mr Leon Devaney, and Chief Financial Officer, Damian Galvin, will cover Central's FY2022 results. Attendees will be provided an opportunity to submit questions for a Q&A session to occur at the completion of the presentation. Participants wishing to join this [...]

Central Petroleum Ltd. advises that as at 0600 hrs ACST on 19 September 2022, drilling of the Palm Valley 12 sidetrack into the Pacoota-1 was ongoing. The well is in OL3, Southwest of Alice Springs in the Northern Territory. The drilling of the 8.5" section was completed at a depth of 1,860m. Operations are underway to run and cement the 7" liner. Drilling of the 6" open hole section in the P1 will continue once these [...]

Central Petroleum Ltd. today reports a net profit after tax of $21.3 million for the financial year to 30 June 2022, including a $36.6 million profit on the sale of half of its interest in its three producing gas and oil fields in the Northern Territory. The result also includes $21.6 million of exploration expenses during the year. Underlying Earnings Before Interest, Tax, Depreciation, Amortisation and Exploration was [...]

Central Petroleum Ltd. today announces a new GSA has been executed with Shell Energy for 0.91 PJs of gas supply over one year, commencing 1 January 2025. The GSA is for firm gas supply, with take-or-pay provisions and a fixed price. The GSA commercialises a portion of existing uncontracted production. Highlights - Central Petroleum Ltd. , through a wholly owned subsidiary, has executed a new gas supply agreement for 0.91 [...]

Central Petroleum Ltd. refers to its announcements dated 9 February 2022, 30 June 2022 and 1 August 2022 regarding the Peak Helium farmout transaction. The conditions precedent satisfaction date for the Peak Helium farmout is 31 August 2022. The conditions precedent have been continuing to progress well and Peak Helium have requested an extension to 12 October 2022 to satisfy the remaining conditions. Accordingly, the [...]