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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.060 -0.003 (-4.76%)+
Announcement
Release
12 Nov 2025 9:28AM
Price at Release
$0.063
Full Release
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Summary
Central Petroleum Limited (ASX: CTP) has entered into a conditional sale and purchase agreement with Georgina Energy Plc to sell its interests in three Northern Territory sub-salt exploration permits - EP82, EP112, and EP125. The transaction will result in Central holding a 25% equity interest in Georgina post-equity raise. This sale is expected to enhance Georgina's focus on helium exploration, given the highly prospective helium, hydrogen, and hydrocarbon targets in central Australia. The transaction requires Georgina to raise at least GBP £7 million to fund its share of the Mt. Kitty appraisal well, projected to drill by June 2027. Central plans to distribute Georgina shares to its shareholders upon completion of the transaction, expected by late 2026. This move is anticipated to give Central's shareholders exposure to a specialized helium exploration company.
Key Points
  • Central Petroleum to sell interests in three exploration permits to Georgina Energy Plc.
  • Central to hold 25% equity in Georgina post-transaction.
  • Georgina to fund GBP £7 million for Mt. Kitty appraisal well.
  • Central plans to distribute Georgina shares to its shareholders.
  • Transaction enhances Georgina's helium exploration focus.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.