CENTRAL PETROLEUM LIMITED overview

Brisbane, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) released its half-year update for the period ending December 31, 2024, presenting a compelling narrative of financial stabilization and operational strength. This report marks a significant pivot for the company, which has emerged from a decade of fiscal challenges to establish a fortified balance sheet and a strategic foothold in the Northern Territory's evolving gas market. Through prudent debt...

Brisbane, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) will hold an online presentation on Friday 14 March 2025 commencing at 10.00 am AEST. Managing Director & Chief Executive Officer, Mr Leon Devaney, and CFO, Damian Galvin, will cover Central's results for the half year to December 2024 and provide an update on recent activities. Attendees will be provided an opportunity to submit questions for a Q&A session to occur at the completion of the...

Brisbane, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) today reports Underlying Earnings Before Interest, Tax, Depreciation, Amortisation and Exploration (EBITDAX) for the half year to 31 December 2024 of $8.6 million, an increase of 7% from the first half of FY2024. After absorbing the costs of exploration activities, finance and depreciation, Central has recognised a statutory net profit after tax of $1.5 million. Highlights since 30 June 2024 - New...

Brisbane, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) outlook for 2025 radiates optimism, a stark contrast to the challenges of recent years, as the market begins to recognize the value of its Northern Territory gas fields. The past two years saw the company grappling with unexpected closures of the Northern Gas Pipeline, which rattled markets across northern Australia and squeezed Central's revenues, cash flows, and investment confidence. Yet,...

Brisbane, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that the recentlycompleted WM30 production well at the Mereenie field was tied-in and brought online on 26 February. WM30, the second and last well in the Mereenie drilling program, is currently producing over 4 TJ/d at the wellhead (100% JV) and is expected to stabilise at between 4 TJ/d and 4.5 TJ/d, exceeding the pre-drill expectation of circa 3 TJ/d per well. Combined, WM29 and WM30...

Brisbane, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that drilling and completion of the second new Mereenie production well, WM30, is complete and Ventia Rig 101 was released on 19 February 2025. WM30 was successfully air-drilled through the primary Pacoota-3 reservoir target to a total measured depth of 1,620m. The WM30 tie-in to the Mereenie production facilities is expected to be completed in early March. As previously advised, the first...

Brisbane, Australia (ABN Newswire) - Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that Mr McCormack will step down and leave the board of Central on 30 April 2025. Following consultation with the board, Central's current non-executive director, Dr Agu Kantsler, has been unanimously supported by the board to take up the role as Chair of Central. Since being appointed as Chair on 28 November 2020, Mick's leadership has seen Central's financial position improve...

Brisbane, Australia (ABN Newswire) - Central Petroleum Limited's (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) gas fields were operating at full capacity for much of the quarter. Demand for gas in the Northern Territory was consistently strong during the quarter as warmer temperatures drove increased energy consumption. Production at Mereenie was interrupted for several days while pipeline connections for the two new wells were installed. Sales volumes increased 3% to 1.17 PJe (Central share) from the...