Central Petroleum Limited: Quarterly Activities Report
Brisbane, Australia - Central Petroleum Ltd. (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) announced the Activities Report for the September quarter 2025.- Sales volumes of 1.1 PJe (Petajoule equivalent) were 4.5% lower than the June quarter, reflecting lower seasonal demand, temporary pipeline pressure restrictions and partial oil offtake constraints.
- Unit sales prices: the average realised delivered price across the portfolio was $10.15 / GJe (Gigajoule equivalent) for the September quarter, 28% higher than the same quarter last year, but slightly lower than the June quarter due a different mix of gas delivery points when the Northern Gas Pipeline was closed, and softer oil prices.
- Sales revenue of $11.2m for the September quarter was 6.6% lower than the record high June quarter, driven by the lower sales volumes and sales prices. Contracted take-or-pay provisions provide some protection for cash flows, with an additional $0.5m arising in respect of take-or-pay volumes not taken in the quarter.
- Operating cash inflows of $0.6m ($1.8m before net interest and exploration costs) were impacted by the lower sales revenues, a catch-up of $2.8m of overlift gas payments accrued since February, and Central's share of annual staff incentive payments (net of JV recoveries), including the cash-settlement of share rights.
- Cash balance at the end of the quarter was $26.7m, down from $27.5m at 30 June. Key cash flows included:
o Net operating inflows of $1.8m (before net interest and exploration);
o CAPEX of $1.0m;
o Exploration related expenditures of $0.8m, including the finalisation of necessary rehabilitation and remediation works in the Southern Georgina Basin and preparation for seismic acquisition in EP115; and
o Net interest payments of $0.5 million.
- Net cash was $3.3 million at 30 September, including $2.5 million of funds held as security for the loan facility.
- Reserves upgrade: the outperformance of the new Mereenie production wells resulted in a 9% increase (before production) in 2P oil and gas reserves at Mereenie at 30 June, effectively replacing 178% of Mereenie's FY2025 production.
Dingo 1P gas reserves were upgraded by 6% before production, following new reservoir modelling. These reserve upgrades effectively replaced 98% of FY2025 production across Central's portfolio on a 1P basis, and 96% on a 2P basis.
- Share buy-back: opened an on-market share buy-back program, Central's first shareholder returns. To date, Central has not been able to purchase shares onmarket due to ASX trading constraints.
- New Gas Sales Agreement: In October, Central secured a new Gas Sale Agreement (GSA) to supply 1.3 PJ (Central share) of gas over two years from 31 December 2025. The new GSA is for firm supply at a fixed price, with take-or-pay provisions, providing increased cash flow certainty.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/OKG5AFJO
About Central Petroleum Limited:
Central Petroleum Limited (Central) is an established ASX-listed Australian oil and gas producer (ASX:CTP) with exploration and appraisal permits in the Northern Territory (NT). Central has grown to become the largest onshore gas operator in the NT, supplying residential and industrial customers in the NT and wider Australian east coast market.
Central is seeking to become a major domestic energy supplier, in addition to helium and naturally occurring hydrogen, with exploration, appraisal and development plans across 169,112 km2 of tenements the NT, including some of Australia's largest known onshore conventional gas prospects in the Amadeus Basin.
Source:
Central Petroleum Limited
Contact:
Investor and Media Inquiries: Greg Bourke: +61-478-318-702 Sarah Morgan: +61-421-664-969
