• New gas sale contracts driving increased revenues, average prices and cash flows
• Sales volumes remained strong, benefitting from new Mereenie wells
• Cash balance increased 28% to $27.5m, with strong net operating cash inflows

Central Petroleum Ltd reported a strong quarter, with new gas sale contracts becoming visible and driving increased revenues, average prices and cash flows. Sales revenue increased significantly, up 22% for the full year and 28% higher in the second half of FY25 compared to the first half. The average realised delivered price across the portfolio was $10.38/GJe for the June quarter, 6% higher than the previous quarter, and the full year average was $9.02/GJe, up 19% from FY24. Operating cash inflows were 70% higher than the previous quarter at $6.3m, benefitting from the new gas contracts, recovery of increased regulatory costs, and timing of payments for returned overlift gas. Sales volumes remained steady at 1.16 PJe for the quarter and 2.4% higher for the full year at 4.63 PJe. The company's cash balance increased 28% to $27.5m, with net operating cash inflows of $8.1m, CAPEX of $1.1m, $1m in proceeds from the sale of a non-core asset, and $1.3m in exploration-related expenditures.

Central Petroleum expects an additional $1.9m of revenue to be recognised for the release of deferred take-or-pay balances and the recovery of new regulatory costs for the 18 months to December 2024.