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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.066 -0.01 (-13.16%)+
Announcement
Release
6 May 2026 5:48PM
Price at Release
$0.076
Full Release
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Summary
Central Petroleum Limited announced its termination of a conditional agreement to sell its interests in the Northern Territory sub-salt exploration permits, EP112 and EP125, to Georgina Energy Plc due to unmet conditions. Central Petroleum, through its subsidiary Frontier Oil & Gas Pty Ltd, has withdrawn from the EP112 Joint Venture with Santos, leading to an expected impairment charge of $1.7 million in FY26. The company will continue its involvement in the Mt Kitty/Jacko Bore project in EP125, projected to be drilled in 2027. The CEO emphasized the shift in focus towards the Mt Kitty discovery, which holds significant natural gas, helium, and hydrogen resources.
Key Points
  • Termination of sub-salt exploration permit sale to Georgina Energy Plc.
  • Withdrawal from EP112 Joint Venture with Santos.
  • Expected $1.7 million impairment charge in FY26.
  • Continued focus on Mt Kitty/Jacko Bore project in EP125.
  • Projected drilling of Mt Kitty/Jacko Bore in 2027.
  • Mt Kitty discovery holds significant natural gas, helium, and hydrogen resources.
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.