• New Mereenie wells exceed target production rate
• Sales volumes steady, higher average unit sales prices
• Operating cash inflows up 45% from previous quarter

Central Petroleum Ltd has released its quarterly activities report and Appendix 5B for the period ended 31 March 2025. Key highlights include:- Two new gas production wells at the Mereenie field were successfully drilled and commissioned during the quarter, with costs under budget, commencement ahead of schedule, and production above pre-drill expectations. The new wells initially increased Mereenie's sales gas capacity by around 9 TJ/day.- Aggregate sales volumes were steady at 1.17 PJe compared to the previous quarter, with increased gas production from the new Mereenie wells offset by lower oil liftings, lower demand from the Dingo field, and scheduled maintenance programs.- The average realised price across the portfolio increased by 22% to $9.78/GJe, as new higher-priced gas contracts came into effect from 1 January 2025. This drove a 22% increase in sales revenue to $11.4 million.- Operating cash inflows were $3.7 million ($5.6 million before net interest and exploration), 45% higher than the previous quarter, benefitting from the higher unit sales prices and commencement of production from the new Mereenie wells.- The company's cash balance at the end of the quarter was $21.5 million, down from $23.4 million at 31 December due to the investment in the Mereenie drilling program.- Central's conditional gas sale agreement with Arafura's Nolans project lapsed due to the project not reaching FID by the deadline, and the company will now market this gas volume to other customers.