• Central to sell interests in three Northern Territory sub-salt exploration permits to Georgina Energy
• Georgina must raise at least GBP £7 million to fund the Mt. Kitty appraisal well
• Central to receive 25% equity interest in Georgina upon completion

Central Petroleum Limited (Central) (ASX: CTP) announces that it has entered into a conditional sale and purchase agreement to sell its interests in the three Northern Territory sub-salt exploration permits - EP82, EP112 and EP125 - to Georgina Energy Plc (Georgina) (London Stock Exchange: LON.GEX) in consideration for a 25% equity interest in Georgina. Prior to completion of the transaction, Georgina must undertake an equity raise of at least GBP £7 million (circa AUD $14 million) in order to fully fund its acquired share of the Mt. Kitty appraisal well which is expected to be drilled by June 2027. The transaction would result in Central holding a 25% interest in Georgina post equity raise (i.e. Central will not need to contribute to the Georgina equity raise to end up with a 25% interest in Georgina). On completion of the transaction, Central's intention would be to distribute the Georgina shares to Central's shareholders (subject to regulatory requirements). The transaction would significantly enhance Georgina as a pure-play helium explorer, with a focus on five helium, hydrogen and hydrocarbon prospects in highly prospective areas of central Australia, comprising of Central's three sale permits, EP82 (Mahler/Magee), EP112 (Dukas) and EP125 (Mt Kitty/Jacko Bore) and Georgina's two other permits, Mt Winter (EPA155, Amadeus Basin, Northern Territory) and Hussar (EP513, Officer Basin, Western Australia). Mt Kitty is a discovery with world class levels of helium (9%) and hydrogen (11.5%) and will be the first of these targets to be drilled.

The transaction would facilitate the restart of near-term sub-salt drilling in the Amadeus Basin, and provide Central's shareholders with exposure to a focused, well capitalised, and substantial helium exploration company.