The major Central Australian oil and gas producer, Central Petroleum Limited, has today reported a 28 per cent increase in second half revenues from the first half of the 2025 financial year.
CEO Leon Devaney says this reflects the impact of new multi-year gas sale contracts.
That increase was predicted by him in the company’s 2024 report, dealing with major sales to the NT Government: “Most significant was the successful conclusion of our gas sale Expression of Interest process which resulted in a new major gas sale agreement with the Northern Territory Government.
“We have now contracted all of our firm gas production for the next six years, underwritten two new development wells at Mereenie [near Palm Valley, 138 kilometres west of Alice Springs], and mitigated our exposure to the Northern Gas Pipeline.”
This means steps had been taken to reduce the impact or likelihood of a negative event.
Mr Devaney said in September last year: “I believe this is the most transformative gas sale agreement that Central has ever executed, with an increase in our historical average portfolio contract price and an anticipated increase in Mereenie production becoming visible early next year.”
In his statement this morning he said net operating cash flows in the June quarter had been boosted to $6.3 million, “the highest quarterly operating cash flows ever recorded by the Company.
“Central’s annual revenues for the full financial year to June increased 22 per cent to $41.8m after booking $12m of revenue in the June quarter.”
This article appeared on Alice Springs News on 28 July 2025.
