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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.068 -0.01 (-12.82%)+
Announcement
Release
28 Apr 2026 9:11AM
Price at Release
$0.078
Full Release
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Summary
Central Petroleum Limited's Quarterly Activities Report and Appendix 5B for the quarter ended March 31, 2026, highlights significant developments in its operations and financial activities. Production at Palm Valley and Mereenie fields in the Northern Territory saw steady performance with plans to boost production through two new wells at Palm Valley, expected to increase capacity by late 2026. A new Gas Supply Agreement was secured to provide up to 10.5 PJ of gas through 2034. The company's sales revenue increased due to higher gas prices and volumes, despite challenges in oil sales due to specification constraints. Financially, the company reported increased cash flows from operating activities but faced significant cash outflows for investing activities. An increased loan facility was also arranged to support drilling activities. Overall, Central Petroleum is focused on expanding its production capacity and securing long-term supply agreements.
Key Points
  • Steady production at Palm Valley and Mereenie fields.
  • Approval for two new wells at Palm Valley to increase capacity.
  • New multi-year Gas Supply Agreement secured.
  • Increased sales revenue due to higher gas prices and volumes.
  • Challenges in oil sales due to specification constraints.
  • Net cash inflow from operating activities.
  • Significant cash outflow for investing activities.
  • Increased loan facility for drilling support.
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.