Central Petroleum Ltd.

Central Petroleum Ltd. advises that following completion of the unsuccessful Pacoota 2 / Pacoota 3 appraisal at Palm Valley, the Board will be undertaking a strategic review of the Company's asset portfolio, growth strategies and capital structure. 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 [...]

Central Petroleum Ltd. advises that as at 0600 hrs ACST on 20 August 2022, the Palm Valley 12 well in OL3, Southwest of Alice Springs in the Northern Territory was at a measured depth of 2,431m in the lower P2 and P3 units of the Pacoota Formation. Water has been recovered from the wellbore and chemical analysis has determined it to be formation water. A combination of the presence of formation water and the absence of [...]

Central Petroleum Ltd. advises that as at 0600 hrs ACST on 15 August 2022, the Palm Valley 12 well in OL3, Southwest of Alice Springs in the Northern Territory was at a measured depth of 2,301m in the lower P2 unit of the Pacoota Formation. Drilling of the sidetrack has progressed a total of 151m this week. The objective of the sidetrack is to test the vertically fractured lower P2 sandstone, encountered in the original [...]

Central Petroleum Ltd. will hold a webinar presentation on Thursday, 4 August 2022 commencing at 10:00am AEST. Managing Director & Chief Executive Officer, Mr Leon Devaney, and Chief Financial Officer, Damian Galvin, will cover Central's last quarter performance and provide an update on recent and upcoming activities. Attendees will be provided an opportunity to submit questions for a Q&A session to occur at the [...]

Central Petroleum Ltd. refers to its announcements dated 9 February 2022 and 30 June 2022 regarding the Peak Helium farmout transaction. The conditions precedent satisfaction date for the Peak Helium farmout is 31 July 2022. The conditions precedent have been continuing to progress well and Peak Helium have requested a further month to satisfy the remaining conditions. Accordingly, the parties have agreed to extend the [...]

Central Petroleum Ltd. provide the Quarterly Activities Report & Appendix 5B. Highlights - Cash balance at the end of the quarter was $21.6 million, compared to the $18.9 million balance at 31 March 2022, reflecting: o Strong commodity prices contributing to a $6.8 million positive net cash flow from operations . o Ongoing exploration activity including the Range CSG pilot activities. o $0.6 million of capital [...]

Central Petroleum Ltd. announces that the Board of Directors has agreed for Leon Devaney to continue as Managing Director and Chief Executive Officer from the expiry of the current contract on 1 July 2022. Central's Chair, Mick McCormack said, "Leon has been integral in realising the company's growth opportunities and has been a steady hand through challenging business conditions over the past couple of years. Since [...]

Central Petroleum Ltd. refers to its announcement dated 9 February 2022 regarding the Peak Helium farmout transaction. The conditions precedent satisfaction date for the Peak Helium farmout is 30 June 2022. Whilst most of the conditions precedent have been satisfied, Peak Helium have requested a further month to enable completion of the remaining conditions. Accordingly, the parties have agreed to extend the conditions [...]

Central Petroleum Ltd. advises that on 23 May 2022, the Palm Valley 12 well in OL3, Southwest of Alice Springs in the Northern Territory, had reached a depth of 1,880m at 0600 hrs ACST in the P1 unit of the Pacoota Formation. The P1 unit of the Pacoota Formation is the main productive zone in the Palm Valley field and is a proposed sidetrack candidate in this well if the deep exploration target at the Arumbera level is [...]

Central Petroleum Ltd. announces that joint venture approvals have been provided for Santos as operator to carry out certain key activities, such as rig contracting, ordering long lead items and environmental and land access approvals, related to the planned drilling of three sub-salt exploration wells in 2023. These wells are targeting hydrocarbons, helium and naturally-occurring hydrogen at the Mahler prospect , the [...]