Central Petroleum Ltd
ASX:CTP
Central Petroleum Ltd
Central Petroleum Ltd. engages in the provision of development, production, processing and marketing of hydrocarbons and associated exploration. The company is headquartered in Brisbane, Queensland and currently employs 85 full-time employees. The company went IPO on 2006-03-07. The firm is an operator of onshore gas production in the Northern Territory, supplying oil and gas from its Mereenie, Palm Valley and Dingo fields to domestic customers in the Northern Territory and the wider Australian east coast market. The Company’s segments include Producing Assets, Development Assets, and Exploration Assets. The Producing Assets segment is engaged in the production and sale of crude oil, natural gas and associated petroleum products from fields that are in the production phase. The Development Asset segment includes fields under development in preparation for the sale of petroleum products. The Exploration Assets segment includes exploration and evaluation of permit areas. Its licenses areas include Palm Valley Gas Field, Dingo Gas Field and Surrounding Area; Surprise Oil Field; EP 115, Mereenie Oil and Gas Field, Ooraminna Retention Licenses, and Amadeus Application Permits.
Central Petroleum Ltd. engages in the provision of development, production, processing and marketing of hydrocarbons and associated exploration. The company is headquartered in Brisbane, Queensland and currently employs 85 full-time employees. The company went IPO on 2006-03-07. The firm is an operator of onshore gas production in the Northern Territory, supplying oil and gas from its Mereenie, Palm Valley and Dingo fields to domestic customers in the Northern Territory and the wider Australian east coast market. The Company’s segments include Producing Assets, Development Assets, and Exploration Assets. The Producing Assets segment is engaged in the production and sale of crude oil, natural gas and associated petroleum products from fields that are in the production phase. The Development Asset segment includes fields under development in preparation for the sale of petroleum products. The Exploration Assets segment includes exploration and evaluation of permit areas. Its licenses areas include Palm Valley Gas Field, Dingo Gas Field and Surrounding Area; Surprise Oil Field; EP 115, Mereenie Oil and Gas Field, Ooraminna Retention Licenses, and Amadeus Application Permits.
Record Results: Central Petroleum posted one of its most successful years, with June quarter revenue of $12 million, up 43% year-on-year and 6% higher than the March quarter.
Cash Flow Strength: June quarter operating cash flow hit $6.3 million, a quarterly record, and the company ended June in a net cash position of $4 million.
Debt Reduction: Years of strategic debt reduction brought net debt down from $65 million in 2019 to net cash of $4 million.
Shareholder Returns: Central announced its first-ever share buyback program, up to 10% of shares, starting in September.
Contracted Revenues: Most production is now contracted through 2027, providing reliable cash flow at improved margins, regardless of pipeline disruptions.
Growth Pipeline: The company is exploring new production wells, sub-salt exploration (helium, hydrogen, hydrocarbons), and is assessing further capital allocation options including dividends.
Market Dynamics: NT market remains uncertain, but Central believes its low cost and strong reserve position will keep it competitive even if new gas sources come online.
