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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.068 0.003 (4.62%)+
Announcement
Release
27 Jan 2026 9:55AM
Price at Release
$0.065
Full Release
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Summary
Central Petroleum Limited has completed the acquisition of interests from ADZ Energy in the onshore Otway and Cooper Basins. The transaction involves a 20% interest in Petroleum Exploration Permit 169 in the Otway Basin, Victoria, and a 49% interest in multiple Petroleum Retention Licences and Petroleum Exploration Licence 677 in the Cooper Basin, South Australia. The exploration program includes drilling at least three wells over the next 18 months, beginning with the Enterprise North well in the Otway Basin in the second half of 2026. Central expects the Enterprise North well to target natural gas in the Waarre Formation, with a prospective gas resource of up to 79 Bcf. The project is anticipated to significantly boost Central’s gas production, with potential strong pricing due to high Victorian gas prices and proximity to market.
Key Points
  • Central Petroleum Limited (ASX: CTP) completed acquisition from ADZ Energy.
  • Acquisition includes interests in Otway and Cooper Basins.
  • Central holds 20% in PEP 169, Otway Basin; 49% in Cooper Basin PRLs and PEL 677.
  • Exploration program to drill at least three wells, starting 2H 2026.
  • Enterprise North targets natural gas in Waarre Formation, Otway Basin.
  • Estimated 79 Bcf of gas in place at Enterprise North, with 16 Bcf share for Central.
  • High gas prices and proximity to Victorian market expected to enhance project value.
  • Cooper Basin permits were dormant but are now under active exploration.
  • Potential to double Central's current gas production rates.
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.