Central Petroleum Ltd.

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 [...]

Central Petroleum Ltd. will hold a webcast on Monday, 16 May 2022 commencing at 1:00pm AEST. Chief Executive Officer and Managing Director, 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 completion of the [...]

Central Petroleum Ltd. advises that on 9 May 2022, the Palm Valley 12 well in OL3, Southwest of Alice Springs in the Northern Territory, had reached a depth of 1,103m at 0600 hrs ACST. In the past week a total of 283m of drilling has occurred reaching the planned total depth for the 17.5" hole section at 1,103m on 5 May 2022. Consequent to reaching total depth, the 13 3/8" casing has been run and cemented, the blowout [...]

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: [...]