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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.060 0 (0%)+
Announcement
Release
22 Dec 2025 5:47PM
Price at Release
$0.060
Full Release
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Summary
Central Petroleum Limited has announced a strategic expansion into the Cooper and Otway Basins in partnership with ADZ Energy. This expansion is aimed at enhancing Central Petroleum's presence from being a single-basin producer in the Northern Territory to a multi-basin exploration and production company. The agreement includes acquiring interests in exploration permits in both basins with plans for multiple exploration wells to be drilled between 2026 and 2027. The Cooper Basin acquisition involves a 49% interest in retention leases and an exploration permit, while the Otway Basin involves a 20% interest in the Victorian exploration permit. This move is expected to significantly increase Central Petroleum's access to the high-value east coast gas market, with the potential for substantial growth opportunities and improved production rates.
Key Points
  • Central Petroleum Limited expands into the Cooper and Otway Basins.
  • Partnership with ADZ Energy for strategic multi-basin expansion.
  • Acquisition includes interests in exploration permits in both basins.
  • Plans for drilling multiple exploration wells from 2026 to 2027.
  • The Cooper Basin acquisition includes a 49% interest in retention leases.
  • The Otway Basin acquisition includes a 20% interest in the Victorian exploration permit.
  • Expansion expected to enhance access to the east coast gas market.
  • Potential for significant growth and increased 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.