Palm Valley 14 Update and Flow Test Result

• PV14 well successfully drilled and is being completed as a gas producer.
• Expected to be tied into Palm Valley production facility by end of month.
• Short-duration flow test measured gas flows of 3.2 TJ/d (100% JV).

Central Petroleum Limited (ASX: CTP) has announced that the PV14 well at Palm Valley has been successfully drilled and is being completed as a gas producer. The well is expected to be tied into the Palm Valley production facility and commissioned by the end of October. A short-duration flow test conducted through the rig measured gas flows of 3.2 TJ/d (100% JV). Drilling of the PV15 well will commence once completion activities are concluded at PV14. The PV14 well was drilled into the Pacoota sandstone and tested through a ¾-inch choke for 90 minutes, reaching a final estimated gas rate of approximately 3.2 TJ/d (100% JV), with no water or oil recovered.