FY2026 Results and Drilling Update

Key points

• Sales revenue increased 3% to $44.7 million
• Underlying EBITDAX was $17.0 million
• Secured new multi-year gas contracts from 2026 to 2034

Full summary

Central Petroleum Ltd (ASX:CTP) reported its FY2026 financial results, showing improved margins and a positive net operating cash flow of $15.6 million. The company's three gas fields generated underlying EBITDAX of $17.0 million. Despite a statutory net loss of $4.9 million, Central secured new multi-year gas contracts, increased its loan facility by $15 million, and expanded into the Cooper and Otway Basins. Drilling at Palm Valley is underway, with first gas sales targeted for October 2026.

Outlook

Central Petroleum Ltd expects stronger results in FY2027 through new Palm Valley production, lower costs, and commercial strategy.