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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.060 -0.009 (-13.04%)+
Announcement
Release
31 Oct 2025 9:35AM
Price at Release
$0.069
Full Release
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Summary
Central Petroleum Limited's Quarterly Activities Report and Appendix 5B for the quarter ending 30 September 2025 highlights a decrease in sales volumes and revenue due to lower seasonal demand, the closure of the Northern Gas Pipeline, and oil offtake constraints. Despite these challenges, the company reported a 28% increase in unit sales prices compared to the same quarter last year, attributable to new gas contracts. Central's cash balance slightly decreased to $26.7 million. Capital expenditures focused on rehabilitation work and seismic acquisition preparations. The company also announced a share buy-back program and secured a new Gas Sales Agreement for firm supply, providing cash flow certainty until 2027. Reserve upgrades at Mereenie and Dingo fields have effectively replaced a significant portion of the year's production, indicating strong operational performance.
Key Points
  • Sales volumes decreased by 4.5% due to seasonal demand and pipeline issues.
  • Average sales price rose by 28% compared to the previous year.
  • Cash balance reduced to $26.7 million from $27.5 million.
  • A share buy-back program was initiated, yet no shares were purchased due to trading constraints.
  • New Gas Sales Agreement ensures firm supply and cash flow certainty until end of 2027.
  • Reserve upgrades at Mereenie and Dingo fields replaced a large portion of production.
  • Exploration expenditures included seismic acquisition preparations.
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.