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Central Petroleum Ltd

ASX:CTP
A$0.061Close 7 Oct 2026 · delayed

Past year: ▼ 6%(5.80c – 9.30c AUD)

Market cap
A$44.2m
Shares on issue
724m
In-ground value
A$1.01bn
Risked multiple
6.69×
Story beats
345 since 2006
Last event
27 July 2026

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

27 July 2026drilling spud▲ GoodMajor

PV14, the first of two Palm Valley appraisal wells, spudded on 25 July 2026. The two-well campaign should take about 4.5 months, with first gas targeted October 2026. The wells aim to restore plant sales capacity to about 14 TJ/d, with at least 10 PJ over their lives.

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27 July 2026drilling spud● Neutral

Partner Cue reports PV14 spudded on 25 July 2026, with the programme taking about 4.5 months and first gas targeted October 2026. Partner-side repeat of Central's announcement; Cue holds 15%.

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27 July 2026drilling spud● Neutral

Partner Echelon reports PV-14 spudded on 25 July 2026 as the first of two wells, running about 4.5 months. Expected to return field output to about 14 TJ/d and produce at least 10 PJ. Partner-side repeat.

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20 July 2026director officer appointment● NeutralMajor

CFO Damian Galvin, in the role since August 2019, has given notice of retirement and will stay through a handover period. Central has begun searching for a replacement. No reason beyond retirement is given.

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20 May 2026production update▲ GoodMajor

Central says the first Palm Valley well is expected to spud mid-July 2026. The overlift gas liability was fully repaid on 16 May, adding over $7M a year of cash flow. Otway and Cooper drilling slips to 1H 2027 on rig availability.

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6 May 2026asset acquisition disposition▼ BadMajor

Central terminated the conditional sale of its EP112 and EP125 sub-salt permits to Georgina because conditions were not met, and withdrew from EP112 (about $1.7M impairment expected). It keeps its 30% of EP125 (Mt Kitty appraisal well expected 2027).

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13 Apr 2026material agreement▲ Good

Partner Cue reports it signed the binding gas deal with the Northern Territory Government, with up to 3.2 PJ Cue share to 2034 at a fixed, CPI-indexed price with take-or-pay terms. It confirms the two Palm Valley wells and that no Mereenie agreement was reached. Partner-side repeat.

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13 Apr 2026material agreement▲ Good

Partner Echelon reports the Palm Valley joint venture signed a gas supply agreement for two new wells, with up to 10.5 PJ net to Echelon and Cue through 2034. It took final investment decision and contracted the Ensign 974 rig. Mereenie wells remain uncommitted option wells.

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13 Apr 2026material agreement▲ GoodMajor

Central signs a binding gas deal with the Northern Territory Government for up to 21 PJ (10.5 PJ Central share) to 2034, underwriting two new Palm Valley wells from mid-2026, about $26M net cost. The Mereenie volumes dropped out of the deal. Macquarie loan raised by up to $15M.

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13 Apr 2026material agreement termination▼ BadMajor

Partner Horizon says the Power and Water Corporation letter of intent for Mereenie has expired without a replacement deal. The joint venture suspends the two Mereenie infill wells, cutting Horizon's 2026 spending by about USD 5M, and will seek other buyers. Existing supply deal to 2030 is unaffected.

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2 Apr 2026material agreement● Neutral

Partner Horizon reports the Mereenie joint venture extended the binding gas sales deadline from 1 April to 10 April 2026. Partner-side repeat of Central's announcement.

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2 Apr 2026material agreement● Neutral

Partner Echelon reports the joint ventures extended the binding gas supply deadline from 1 April to 10 April 2026. Partner-side repeat of Central's announcement.

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1 Apr 2026material agreement● Neutral

Central and its partners extend the binding gas sales deadline with Power and Water Corporation from 1 April to 10 April 2026. The long-term deals are still unsigned, a fourth extension since the original 20 February date.

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31 Mar 2026director officer appointment● Neutral

Non-executive director Joel Riddle resigned effective 30 March 2026, less than three months after joining on 12 January, to relocate to the USA for a new full-time role. The announcement gives no other reason.

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25 Mar 2026material agreement● Neutral

Partner Echelon reports the joint ventures extended the binding gas supply deadline from 24 March to 1 April 2026. Partner-side repeat of Central's announcement; nothing new.

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25 Mar 2026material agreement● Neutral

Partner Horizon reports the Mereenie joint venture extended the binding gas sales deadline from 24 March to 1 April 2026. Partner-side repeat of Central's announcement.

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24 Mar 2026material agreement● Neutral

Central and its partners extend the binding gas sales deadline with Power and Water Corporation again, from 24 March to 1 April 2026. The long-term deals are still unsigned, a third extension.

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13 Mar 2026half year report● Neutral

Central's interim report for the half to 31 December 2025 shows a statutory loss of $1.7M after the $4.2M EP82 impairment, versus underlying profit of $2.5M. The chair flags up to eight wells in the next 18 months and says the Georgina sale remains subject to conditions.

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13 Mar 2026half year report● Neutral

Half-year underlying profit rose 17% to $2.5M on revenue up 17% to $22.1M. The $4.2M EP82 impairment, expected earlier, turned this into a $1.7M statutory loss. Net cash rose to $5.3M from $3.9M at June 2025.

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3 Mar 2026material agreement● Neutral

Partner Horizon reports the Mereenie joint venture agreed to extend the binding gas sales deadline from 2 March to 24 March 2026. Partner-side repeat of Central's announcement.

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3 Mar 2026material agreement● Neutral

Central and its joint venture partners agree with Power and Water Corporation to move the deadline for signing binding gas sales agreements from 2 March to 24 March 2026. The long-term deals remain unsigned, a second extension.

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23 Feb 2026material agreement● Neutral

Partner Echelon reports the Mereenie and Palm Valley joint ventures and Power and Water Corporation extended the binding gas sales deadline from 20 February to 2 March 2026. Partner-side repeat of Central's earlier announcement; nothing new.

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20 Feb 2026material agreement▼ Bad

Central and its joint venture partners agree with Power and Water Corporation to push the deadline for signing binding gas sale agreements from 20 February to 2 March 2026. The long-term deals are not yet binding.

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20 Feb 2026material agreement● Neutral

Partner Horizon reports the Mereenie joint venture and Power and Water Corporation extended the deadline for a binding gas sales agreement from 20 February to 2 March 2026. Partner-side repeat of Central's announcement.

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12 Feb 2026investor presentation● Neutral

Investor update largely repeats known items: contracted gas to rise to 37.5 PJ with the proposed 2034 deals, four wells from Q3 2026, and Enterprise North in 2H 2026. New: buy-back detail of 2.1M shares at about 6.3c and 8.5M rights at about 5.7c. Oil sales stay below capacity.

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9 Feb 2026investor presentation● Neutral

Notice of an online investor webinar on 12 February 2026, where management will cover the gas deals, the Otway and Cooper expansion, and December quarter results. Administrative notice only.

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27 Jan 2026asset acquisition disposition▲ GoodMajor

Central completes the ADZ acquisition: 20% of Otway permit PEP169 and 49% of the Cooper retention leases and PEL677, with ADZ as operator. At least three wells are planned in 18 months, starting with Enterprise North in 2H 2026 (up to 79 Bcf gas in place, ~16 Bcf Central share).

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19 Jan 2026asset acquisition disposition▲ Good

The ADZ Energy Cooper and Otway acquisition becomes unconditional after all conditions are met, with formal completion scheduled for 23 January 2026. This resolves the conditions flagged in the 22 December announcement.

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8 Jan 2026director officer appointment● Neutral

Joel Riddle joins the board as a non-executive director from 12 January 2026. He is a former Managing Director and CEO of Tamboran Resources, with over 28 years of upstream experience.

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22 Dec 2025asset acquisition disposition▲ GoodMajor

Central agrees to buy from ADZ Energy a 20% stake in Otway Basin permit PEP169 and 49% of Cooper Basin retention leases and PEL677, widening beyond the Northern Territory. It pays $9.2M on completion, a $3.9M success payment and a 5% Cooper royalty. Three to four wells are planned across 2026 and early 2027.

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