Central Petroleum Ltd.

Central Petroleum Ltd. provides the following update on Range-9 and Range-10, the two Single Well Pilots in the Surat Basin. Both wells have been operating continuously since commencement of pumping on 4 April 2022. A gradual well drawdown is underway, with the fluid level currently about halfway down to the pumps. Gas breakthrough was observed in the annulus immediately upon commencement of pumping, indicating the [...]

Central Petroleum Ltd. announces that it, on behalf of the Mereenie Joint Venture, has negotiated as-available transportation and market trading arrangements that allow for the sale of non-firm gas from the Mereenie gas field into the high-priced east coast trading hubs, including Brisbane and Sydney Short Term Trading Markets . Central completed its maiden east coast spot sale on Tuesday, 3 May 2022, achieving an exfield [...]

Central Petroleum Ltd. advises that on 2 May 2022, the Palm Valley 12 well in OL3, Southwest of Alice Springs in the Northern Territory, had reached a depth of 820m at 0600 hrs ACST and is currently drilling ahead. In the past week a total of 599m of drilling has occurred. Total depth for the 17.5" hole section which is currently being drilled is planned at 1100m. At this point the 13 3/8" casing string will be run and [...]

Central Petroleum Ltd. is pleased to provide the review of operations for the quarter ended 31 March 2022. Highlights - Major new 2023 sub-salt exploration program to be funded by farmout: In February, Central announced that three Amadeus Basin sub-salt exploration wells would be drilled in 2023, two of which are to be funded through the farmout of interests in three permits to Peak Helium. The two free-carry wells will [...]

Central Petroleum Ltd. advises that it has signed an agreement to extend its existing debt facility with Macquarie Bank Limited by a further three years to 2025 on substantially the same terms as the existing loan facility. Key Points - Loan Facility to be extended by three years to 30 September 2025 - Principal repayments to reduce from $2 million per quarter to $1.125 million per quarter from 30 September 2022 - Loan [...]

Central Petroleum Ltd. advises that the two Single Well Pilots at Range-9 and Range-10 have commenced production testing. The pumps have been started at low speeds for a controlled drawdown with the wells presently producing water into the storage tank. The pump speed will be ramped up over the next month to gradually increase water production rates and drawdown. About Central Petroleum Limited: [...]

Central Petroleum Ltd. welcomes the Federal Government identifying Project Range as a priority gas infrastructure project to receive a targeted grant in the Federal Budget as part of the National Gas Infrastructure Plan released last November. The grant is to be awarded to APA Group to accelerate the provision of gas infrastructure to support Project Range with a focus on pre-Financial Investment Decision activities. The [...]

Central Petroleum Ltd. is pleased to release the attached presentation which provides an overview of its December 2021 half year results and an update on activities. The Interim Report for the Half Year ended 31 December 2021 was released to ASX on 9 March and Leon Devaney, Central's CEO & Managing Director, has now recorded a presentation which provides further detail and commentary on the Company's performance and [...]

Central Petroleum Ltd. today reports a net profit after tax of $30.5 million for the half year to 31 December 2021, 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 $10.1 million of exploration expenses associated with preparations for two new exploration wells at Palm Valley and Dingo and testing at its Range [...]

Central Petroleum Ltd. has updated its reserves based on recent drilling and production results across Mereenie, Palm Valley and Dingo. These updated reserves and resources estimates have been reviewed and certified by the internationally recognised petroleum consultants Netherland, Sewell & Associates, Inc. HIGHLIGHTS - There has been an upwards adjustment of 1.7 PJ at Palm Valley to reflect the continued outperformance [...]