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Central Petroleum Limited ( (AU:CTP) ) has issued an update.
Central Petroleum has amended its recently announced sale of several Northern Territory sub-salt exploration permits to Georgina Energy, removing EP82, which contains the smaller Magee/Mahler prospects, from the transaction and retaining ownership of its subsidiary Helium Australia Pty Ltd. The change allows Georgina to concentrate on the larger, higher-potential EP112 (Dukas) and EP125 (Mt Kitty) permits and other Amadeus and Officer Basin targets, while Central has notified its withdrawal from the EP82 joint venture with Santos and expects to book a $4.2 million impairment charge in its FY26 accounts, signalling a strategic refocus on more commercially attractive helium, hydrogen and hydrocarbon opportunities.
The most recent analyst rating on (AU:CTP) stock is a Hold with a A$0.06 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 ASX-listed Australian oil and gas producer with exploration and appraisal permits in the Northern Territory. It is the largest onshore gas operator in the NT, supplying residential and industrial customers in the Territory and the broader east coast gas market, and is pursuing growth as a major domestic energy supplier, including helium and naturally occurring hydrogen, across an extensive tenement position in the Amadeus Basin and other NT areas.
Average Trading Volume: 436,363
Technical Sentiment Signal: Sell
Current Market Cap: A$45.92M
For detailed information about CTP stock, go to TipRanks’ Stock Analysis page.