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The latest update is out from Central Petroleum Limited ( (AU:CTP) ).
Central Petroleum has completed the acquisition of interests in conventional exploration permits in the onshore Otway and Cooper basins from ADZ Energy, securing a 20% stake in Victoria’s PEP 169 and a 49% interest in multiple petroleum retention licences and an exploration licence in South Australia, with ADZ remaining as operator. The partners plan a multi-well exploration program over the next 18 months, starting with the Enterprise North well in PEP 169 in the second half of 2026, targeting high-permeability natural gas in the Waarre Formation close to existing pipelines and processing plants; if successful, the well is designed to transition quickly to production and could underpin both early gas sales into the Victorian market and longer-term gas storage opportunities, strengthening Central’s growth pipeline and exposure to premium domestic gas pricing.
The most recent analyst rating on (AU:CTP) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Central Petroleum Limited stock, see the AU:CTP Stock Forecast page.
More about Central Petroleum Limited
Central Petroleum Limited is an Australian oil and gas company focused on exploration and production, with assets in key onshore basins supplying domestic gas markets. The company targets conventional gas resources located near existing infrastructure to enable relatively rapid commercialisation for high-value regional gas demand, particularly in eastern and southern Australia.
Average Trading Volume: 440,155
Technical Sentiment Signal: Sell
Current Market Cap: A$48.93M
Learn more about CTP stock on TipRanks’ Stock Analysis page.