Central Petroleum Limited (CNPTF) Palm Valley 15 Spuds

Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) advises that PV15, the second well in its two-well Palm Valley drilling programme, was spudded by Ensign Rig 974 on 18 October 2026 at 11:30 hrs ACST.

PV15 is scheduled to take approximately 51 days to reach a total depth of 3,114m below the rotary table (approximately 2,031 metres true vertical depth). PV15 is a deviated well and will be drilled at an angle of approximately 78 degrees through the Pacoota Formation reservoir targeting the south flank of the Palm Valley gas field.

The two wells are aiming to restore Palm Valley plant sales capacity to approximately 14 TJ/d (100% JV) and deliver at least 10 PJ of gas (100% JV) over their operating lives. The investment is underpinned by the new Northern Territory Government Gas Supply Agreement announced by Central in April.

Investor and Media Inquiries: 
Leon Devaney: +61 (0)7 3181 3800
Managing Director and CEO 
info@centralpetroleum.com.au
www.centralpetroleum.com.au

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