Central Petroleum Ltd.

Central Petroleum Ltd. Quarterly Activities Report and review of operations for the quarter ended 31 December 2022. Highlights: - Palm Valley drilling success: The Palm Valley 12 P1 lateral well was successfully completed, tied-in to the Palm Valley processing facilities and flowing gas to market at greater than 10 TJ/day from late November. - New gas sales agreement: A new gas sales agreement for the sale of 0.55 PJ of [...]

Central Petroleum Ltd. today announces a new GSA has been executed with South32 for 0.55 PJs of gas supply over two years, commencing 1 January 2023. 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. The GSA commercialises a portion of existing uncontracted production. Highlights - Central Petroleum Ltd. , through a wholly owned subsidiary, has [...]

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 30 November 2022. Following Peak Helium's advice that the assessment of stamp duty has been completed, it has been progressing various approvals with the Northern Territory Government in order to facilitate completion of the remaining [...]

Central Petroleum Ltd. advises that it has entered into an agreement with Macquarie Bank Limited for the expansion of its existing debt facility for up to $12 million to fund increased production across its Amadeus Basin gas projects. Funding from the expanded facility will be available for Central's share of up to six well recompletions and two new development wells at the Mereenie field to be completed next year with [...]

To our Shareholders, since I last spoke to you at Central Petroleum Ltd.'s AGM last year, we have seen the emergence of energy security and affordability as critical issues for governments, businesses and individuals alike. The rush towards renewable energy has exposed vulnerabilities in the market's ability to reliably meet demand for electricity and, despite commentary from all manner of supposed experts, the fact is [...]

Central Petroleum Ltd. provide the review of operations for the quarter ended 30 September 2022. Highlights - Palm Valley drilling success: The Palm Valley 12 well flowed gas at 11.8 million standard cubic feet per day from the Pacoota-1 Sandstone following an unsuccessful exploration sidetrack drilled into the lower P2/P3 Sandstones. The well is currently being tied into the Palm Valley facilities, with first gas [...]

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 [...]