• Arafura gas supply agreement has lapsed due to Arafura not meeting condition precedent
• Central and Mereenie joint venture partners to market this gas volume to other customers in NT and east coast
• Reliable gas supplies backed by certified proven reserves are highly desirable in the NT

Central Petroleum Limited (ASX:CTP) has announced that the Arafura gas supply agreement ('GSA') for Arafura's Nolan's rare earth's project ('Nolan's Project'), including gas supply contracts with Central's other Mereenie joint venture partners, has lapsed due to the condition precedent (being Arafura's board approving a final investment decision of the Nolan's Project) not being satisfied on or before the 31 March 2025. Central and the other Mereenie joint venture partners had committed to the three-year sale in advance of the agreed 1 January 2028 commencement date and already provided a nine-month extension to satisfy Arafura's condition precedent. Central and the Mereenie Joint venture have now decided to market this volume of firm gas production commencing in 2028 to other customers throughout the NT and east coast. Central's Managing Director Leon Devaney stated that while they are disappointed Arafura was unable to achieve FID during the window provided, the NT and broader east coast gas markets desperately need long-term gas that can be supplied on a firm and reliable basis. Central and its joint venture partners in the Amadeus Basin have a track record of reliably delivering firm gas supplies that are backed by certified proven reserves, which is not widely available in the NT but is critical for customers looking to fund and develop major capital projects.