CTP.ASX: Sub-salt exploration permit sale update

Sub-salt exploration permit sale update

Stock	Central Petroleum Ltd (CTP.ASX)
Release Time	19 Dec 2025, 8:21 p.m.
Price Sensitive	Yes

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Central Petroleum updates sub-salt exploration permit sale

Key Points

Excludes EP82 containing Magee/Mahler prospects from sale to Georgina Energy
Allows Georgina to focus on larger prospects in EP112 and EP125
Central to recognize $4.2 million impairment charge for withdrawing from EP82 joint venture

Full Summary

Central Petroleum Limited (ASX: CTP) has announced an update to the previously announced sale of its interest in several sub-salt exploration permits in the Northern Territory to Georgina Energy Plc. The key change is that the sale will now exclude the EP82 permit, which contains the Magee/Mahler prospects. Central has determined that the Magee/Mahler prospects are much smaller and less commercial than the other sub-salt prospects being targeted for helium in the Amadeus Basin. The exclusion of EP82 will allow Georgina to focus more resources on the two other permits being transferred, EP112 (Dukas) and EP125 (Mt Kitty), along with their other primary targets in the Amadeus and Officer Basins which have larger prospective and contingent resources of helium, hydrogen and hydrocarbons. Central has also provided notice of its withdrawal from the EP82 Joint Venture with Santos. As a result of this withdrawal, Central expects to recognize an impairment charge of $4.2 million in its FY26 financial statements.