概述：
中央石油有限公司（“中央石油”）及其梅里尼和棕榈谷合资伙伴（统称“合资公司”）已与北领地电力和水务公司（“水务公司”）签署了一份具有约束力的意向书（“意向书”），旨在：

i) 支持立即启动四口新井加速钻探计划的前期准备工作；以及
ii) 迅速制定并执行天然气供应协议，该协议将与有条件天然气供应条款清单相一致，确保在2034年底前出售梅里尼和棕榈谷未签订合同的固定天然气产量，最高可达25.5 PJ（中央石油的份额）。

钻探计划前期准备工作：
合资公司将立即启动四口井钻探计划的前期准备工作。这包括订购长周期物料、推进土建工程以及选择钻机等活动。该项目将在梅雷尼（Mereenie）钻探两口井，在棕榈谷（Palm Valley）钻探两口井，计划于2026年中期开始钻探。

天然气供应安排：
合资企业和普华永道已就长期固定天然气供应的“原则性”条款达成最终协议。该协议涵盖梅雷尼和棕榈谷气田未签订合同的固定天然气产量，按市场价格供应，最高可达25.5 PJ（中央份额），供应期限至2034年底，其中包括四口井项目的额外产量。该天然气供应条款清单不具约束力且附带条件，需经各合资企业参与方和普华永道的最终内部批准。

各方计划于2026年2月20日前，根据本条款清单正式签署具有约束力的天然气销售协议（“天然气销售协议”）。根据意向书，各方已达成协议，若在2026年2月20日前未能签署具有约束力的天然气销售协议，普华永道将向合资企业报销与钻井计划早期工作相关的费用。

项目准备情况：
拟定的供应安排旨在迅速向北领地输送大量新增天然气，同时增强该地区客户的天然气供应安全。

新井的准备工作已进展顺利，关键审批已到位或正在进行中。通过现在启动钻井计划的早期工作，合资企业可争取在2026年年中开始钻探。由于新井将利用现有梅里尼（Mereenie）和棕榈谷（Palm Valley）气田的现有产能，因此新增天然气产量可在钻探完成后迅速供应市场。

Central Petroleum通过其子公司持有Mereenie油田25%的权益，其他Mereenie油田合资伙伴包括Echelon Mereenie Pty Limited、Horizo​​n Australia Energy Pty Ltd和Cue Mereenie Pty Ltd；

Central Petroleum还持有Palm Valley油田50%的权益，其他合资伙伴包括Echelon Palm Valley Pty Limited和Cue Palm Valley Pty Ltd。Central Petroleum首席执行官Leon Devaney表示，
意向书和天然气销售条款清单表明，合资企业和普华永道(PWC)都致力于迅速增加阿马迪斯盆地的天然气供应。Central Petroleum及其合作伙伴在加速钻井项目方面拥有丰富的经验，今年早些时候，在与北领地政府达成的类似天然气供应协议下，Mereenie油田的两口新井已成功钻探并投产。该钻井计划的目标是从明年年中开始，提供相当于北领地天然气总需求20%以上的额外天然气供应。

重要的是，阿马迪厄斯盆地的天然气产量来自常规气田，这些气田拥有已探明储量和良好的可靠性记录。这种可靠性对于依赖稳定天然气供应以获得经济高效能源的北领地用户至关重要。中央石油公司期待与普华永道紧密合作，共同推进这项重要的天然气供应协议（GSA）和加速钻探计划，以实现提高北领地所有居民的天然气供应和能源安全这一共同目标。

拟议的天然气供应协议不仅将为钻探计划提供资金支持，还将为中央石油公司提供可靠的政府担保收入来源，直至未来十年，而无需持续承担北方天然气管道运营的风险。

本公告已获得董事总经理兼首席执行官莱昂·德瓦尼的批准和授权发布。

Overview
Central Petroleum Limited (“Central”) and its Mereenie and Palm Valley Joint Venture partners (collectively “JVs”) have entered into a binding Letter of Intent (“LOI”) with the Northern Territory’s Power and Water Corporation (“PWC”) to:

i) support the immediate commencement of early works for an accelerated drilling program for four new wells; and
ii) promptly document and execute gas supply agreements consistent with conditional gas supply term sheets that will see uncontracted firm gas production from Mereenie and Palm Valley of up to 25.5 PJ (Central share) sold through the end of 2034.

Drilling Program Early Works
The JVs will immediately begin early works for a four-well drilling program. This includes activities such as ordering long-lead items, progressing civil works, and selecting a drilling rig. The program will involve drilling two wells at Mereenie and another two at Palm Valley, with drilling targeted to commence in mid-2026.

Gas Supply Arrangements
The JVs and PWC have finalised ‘in-principle’ terms for long-term, firm gas supply under term sheets covering uncontracted firm gas production at market pricing from the Mereenie and Palm Valley fields of up to 25.5 PJ (Central share) through the end of 2034, which includes additional production from the four-well program. The gas supply term sheets are non-binding and conditional, requiring final internal approvals from each JV participant and PWC.

The intention is for the parties to formalise and execute binding Gas Sale Agreements (“GSAs”), consistent with these term sheets, by 20 February 2026. Arrangements have been agreed under the LOI where the JVs can be reimbursed by PWC for costs associated with the drilling program’s early works in the event binding GSAs are not executed by 20 February 2026.

Project Readiness
The intended supply arrangements are designed to quickly deliver significant new gas volumes to the Northern Territory, while also enhancing gas supply security for customers throughout the region.

Preparations for the new wells are already well-advanced, with key approvals in place or underway. By initiating the drilling program’s early works now, the JVs can target mid-2026 for the commencement of drilling. The additional gas production can be quickly supplied to the market after drilling, as the wells will utilise available production capacity at the existing Mereenie and Palm Valley gas fields.

Central, via subsidiaries, has a 25% interest in the Mereenie field, along with other Mereenie JV participants (Echelon Mereenie Pty Limited, Horizon Australia Energy Pty Ltd, and Cue Mereenie Pty Ltd) and a 50% interest in the Palm Valley field, with other JV partners (Echelon Palm Valley Pty Limited and Cue Palm Valley Pty Ltd ).

Statement from Central Petroleum CEO, Leon Devaney
The Letter of Intent and gas sale term sheets signify a substantial commitment by both the JVs and PWC to rapidly increase gas supply from the Amadeus Basin. Central Petroleum and its partners have recent experience in delivering accelerated drilling programs, with two new wells at Mereenie successfully drilled and brought online earlier this year under a similar gas supply arrangement with the Northern Territory Government. The drilling program is targeting the delivery of additional gas supply, equivalent to over 20% of the NT’s total gas demand, from the middle of next year.

Importantly, gas production from the Amadeus Basin is sourced from conventional gas fields, underpinned by proven reserves and a strong track record of reliability. This reliability is essential for Northern Territory customers who depend on a steady supply of gas for affordable and efficient energy. Central Petroleum looks forward to working closely with PWC to deliver this significant GSA and an accelerated drilling program, with the shared goal of increasing gas supply and energy security for all Territorians.

The proposed GSAs would not only underwrite the drilling program, but also provide Central with a reliable government-backed income stream well into the next decade without ongoing exposure to the Northern Gas Pipeline’s operations.

This ASX announcement was approved and authorised for release by Leon Devaney, Managing Director and CEO.