Central Petroleum Ltd.

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 [...]

Central Petroleum Ltd. advises that Range-9, the second of two step-out pilot wells at Range, has been successfully drilled, cased and suspended with a slotted liner over the coals in preparation for completion. Total depth was reached at 702m below rotary table with 29.8m of net coal recorded. This compares to average net coal of 32.9m encountered in the four-well exploration program located around the permit, an average [...]

Central Petroleum Ltd. advises that Ensign Rig 963 has been released from the Buru operations in the Canning Basin and is mobilising to Palm Valley. Spudding of the Palm Valley Deep well, the first in a two-well Amadeus basin exploration program, remains on schedule for late March 2022. About Central Petroleum Limited: Central Petroleum Ltd. is a well-established, and emerging ASX-listed Australian oil and gas producer [...]

Central Petroleum Ltd. advises that Range-9, the second of two step-out pilot wells at Range, spudded on 16 February 2022 at 1730 hrs EST. The Range-9 well has a target depth of 700m below rotary table and will be completed across the three seams of the Walloons Coal Measures. Range-10, the first well in the Range step-out pilot well drilling programme, has been successfully drilled, cased and suspended with a slotted [...]

Central Petroleum Ltd. advises it has entered into a farmout of various interests in certain Amadeus Basin exploration tenements to Peak Helium Pty Ltd . Under the farmout, Central is free carried by Peak for two new sub-salt exploration wells, one at Mt Kitty and the other at either Magee or the nearby Mahler prospect. Combined with the planned Dukas exploration well, a total of three sub-salt exploration wells will now [...]

Central Petroleum Ltd. advises that Range-10, the first of two step-out pilot wells, spudded on 5 February 2022 at 1700 EST. The Range-10 well has a target depth of 630m below rotary table and will be completed across the three seams of the Walloons Coal Measures and tested over several months to confirm water and gas flow rates. The two step-out pilot wells, Range 9 and 10, are intended to demonstrate coal properties [...]

Central Petroleum Ltd. provides the review of operations for the quarter ended 31 December 2021. Highlights - Asset sale - On 1 October Central completed the sale of 50% of its interests in the Mereenie, Palm Valley and Dingo fields to New Zealand Oil & Gas Limited and Cue Energy Resources Limited for consideration valued at circa $85 million. A book profit of circa $36 million is expected and the proceeds, including [...]

Central Petroleum Ltd. provides the following drilling update. NORTHERN TERRITORY EXPLORATION DRILLING As previously advised, Central has contracted Ensign Rig 963 for the Palm Valley and Dingo exploration drilling program in the Amadeus Basin. The rig was expected to mobilise to Palm Valley from its current drilling program in the Canning Basin in late January. Ensign has now advised Central that as a result of recent [...]

Central Petroleum Ltd. provides the following activity update. HIGHLIGHTS - Central has contracted Ensign Rig 963 to drill the Palm Valley Deep and Dingo 5 exploration wells in the Amadeus Basin. - Field work to acquire a 30km seismic test line over the Zevon East lead is pending resolution of necessary NT Government cultural heritage clearances. - Silver City Rig 23 has been contracted to drill the two Range Pilot step [...]