重点消息:
Central Petroleum Limited(简称“Central”)已与ADZ Energy(简称“ADZ”)签署具有约束力的买卖协议(SPA),以确保在奥特威盆地和库珀盆地陆上极具前景的常规勘探许可证范围内进行战略性的多盆地扩张。此次交易涉及计划于2026年和2027年初钻探的三至四口近期勘探井,以及随着许可证的成熟,通过其他油气前景带来的持续增长机会。
近几个月来,我们采取了多项重要的战略举措,以提升Central在澳大利亚不断变化的能源格局中的地位。我们与Power and Water Corporation签署了一份具有约束力的意向书,其中包含有条件的天然气供应条款清单。双方计划将这些条款清单转化为具有约束力的天然气销售协议,这将显著提高我们的产量,并确保到2034年稳定产量的长期承购。此外,我们与Georgina Energy达成的有条件协议将降低我们在南阿马迪厄斯盆地盐下勘探的成本,同时保留盐下氦气勘探带来的巨大收益。
Central Petroleum Announces Strategic expansion into the Cooper and Otway Basins
Source: www.gulfoilandgas.com 12/22/2025, Location: Not categorized
Highlights
Central Petroleum Limited (“Central”) has entered into binding Sale and
Purchase Agreements (SPAs) with ADZ Energy (ADZ) to secure a strategic multi-basin
expansion into highly prospective conventional exploration permits in the onshore Otway and
Cooper Basins. The transaction involves three to four near-term exploration wells planned
for drilling over 2026 and early 2027, along with significant ongoing growth opportunities
through other oil and gas prospects as the permits are matured.
The key terms of the transaction are:
• Central to acquire a:
o 20% interest in the Victorian exploration permit PEP169 in the onshore Otway
Basin where extensive seismic surveys have identified, among other substantial
conventional prospects, the highly prospective Enterprise North (“EN”) gas
target. The EN exploration well (to become a production well on success) is
scheduled to be drilled in mid to late 2026; and
o 49% interest in 24 South Australian Retention Leases (PRLs) and exploration
permit PEL677 in the prolific Cooper Basin, where extensive seismic surveys
have identified, among other substantial conventional oil and gas targets, eleven
priority oil leads, with two to three exploration wells (to become production wells
on success) scheduled to be drilled in late 2026 / early 2027.
• Consideration for the acquisition:
o $9.2m upon completion plus Central’s participating interest share of specified
back-costs;
o $3.9m success payment conditional on commercial success from the planned
exploration well at EN; and
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o A 5% royalty on future production from Central’s 49% interest in the Cooper
acreage.
• ADZ to continue as operator.
• Completion of the Sale and Purchase Agreements is conditional on consent from
Central’s financier and ADZ obtaining certain security releases, by 16 January 2026.
Onshore Otway – PEP169 – Enterprise North
The Otway Basin in Victoria has a long history of delivering significant discoveries, both
onshore and offshore. The primary target is the Waarre Formation, a high-quality sand with
world-class porosity and productivity.
PEP169 contains the EN prospect, one of the most prospective onshore targets in Australia.
EN is mapped on seismic as a fault block immediately to the north of the Enterprise gas
field, discovered in 2020.
The Enterprise field, now producing into the Victorian gas market, is interpreted to spill into
the EN structure. EN has seismic amplitude support at the Waarre A and Waarre C horizons.
Significantly, all recent Waarre Formation discoveries in the Otway (onshore and offshore)
are amplitude supported, including Annie-1 (2019), Enterprise-1 (2020), Artisan-1 (2021) and
Essington-1 (2025). Notably, Amplitude Energy reported a 94% success rate across 17
amplitude supported exploration wells in the offshore Otway. Drilling targets, supported by
seismic amplitudes, are also the subject of ongoing and upcoming drilling campaigns in the
offshore Otway being conducted by Conoco Philips, Beach Energy and Amplitude Energy.
EN is ideally located within the high value Victorian gas market, and land access has been
secured close to existing pipelines and three existing processing facilities (Iona, Otway and
Athena Gas Plants). Given the high historic success rates in the area, the EN well will be
designed as a production well, enabling rapid delivery of gas to market in a success case.
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Consequently, only minimal wellhead facilities will be required to bring the gas online. If
successful, Central’s upfront acquisition cost is expected to be around $1/GJ (based only on
anticipated EN volumes), which is very attractive relative to east coast gas prices. Further,
Central’s equity gas production rates are anticipated to almost double (upon first gas) in an
EN success case.
Beyond EN, PEP169 also has significant running room for further growth with 18 further conventional prospects and leads identified, including several significant amplitude supported targets in close proximity to infrastructure.
Cooper Basin – 24 PRLs & PEL677 – Cooper Consolidated JVs
The Cooper Basin is a mature and well-established petroleum province with numerous
historic and recent discoveries. The Cooper Consolidated acreage, comprising 24 Retention
Leases (PRLs) and exploration permit PEL677, covers a large portion of the basin and is
relatively underexplored, with the PRLs only recently coming out of suspension in 2025. The
acreage sits around, and is proximal to, multiple existing conventional discoveries, both gas
and oil fields.
Significantly, much of the acreage has good seismic coverage via a combination of prior 2D
and 3D surveys.
To date, 17 prospects and leads have been identified, with at least seven prospects
considered drill-ready (potentially only requiring seismic reprocessing to mature). The initial
focus of the Cooper Consolidated JVs will be on the higher value oil and gas targets, with
plans to select two to three priority exploration targets to drill by early 2027. In a success
case, Central’s acquisition cost is expected to be less than $1/boe (based on the three
priority targets) which is very attractive given the proximity to oil and gas pipelines and
export facilities. Further, just one oil discovery could substantially increase Central’s equity
liquids production rates.
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Importantly, discoveries in the Cooper Basin can quickly be brought online via a network of
existing gas pipelines accessing the high value east coast gas market, and existing oil
pipelines and trucking corridors to established refineries and port facilities.
Statement from Leon Devaney, CEO of Central Petroleum
This strategic acquisition marks a pivotal moment for Central Petroleum, shifting us from a
single-basin producer focused on the Northern Territory market to a dynamic, multi-basin
E&P company with immediate oil and gas drilling prospects and substantial long-term growth
opportunities. Most importantly, this move gives us direct access to the high-value east coast
gas market.
The partnership with ADZ is an exciting one. They are a nimble, low-cost, onshore explorer
with strong technical expertise, making them an ideal partner for us. With several exploration
wells in the near term, a successful outcome at any of these would significantly de-risk our
permits and deliver a step-change in both production and cash flow.
In recent months, we’ve made several significant strategic moves to elevate Central’s
position in Australia’s evolving energy landscape. We’ve secured a binding letter of intent
with Power and Water Corporation with conditional gas supply term sheets which the parties
intend on converting to binding Gas Sales Agreements that will significantly boost our
production and secure long-term offtake for firm production through 2034. Additionally, our
conditional agreement with Georgina Energy will reduce our exposure to sub-salt exploration
costs in the Southern Amadeus Basin while retaining the significant upside associated with
sub-salt helium exploration.
Now, with this acquisition, we will expand our footprint into two proven onshore basins with
low-cost, near-term drilling opportunities. These assets give us excellent access to the east
coast gas market and provide significant potential for future growth.
Looking ahead to 2026, we’re excited for what’s to come. Over the next 18 months, we plan
to drill four production wells across Mereenie and Palm Valley and participate in up to five
high-impact exploration wells including Enterprise North, the Cooper Basin, and Jacko
Bore/Mt Kitty (via Georgina Energy). We are clearly entering one of the most impactful
periods in Central's history.
This ASX announcement was approved and authorised for release by Leon Devaney,
Managing Director and CEO.
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