Central Petroleum reports a strong underlying financial result for the half year ending 31 December 2025 (HY2025).
Underlying profit after tax increased 17% from the previous corresponding half year to $2.5m million.
After a $4.2 million impairment charge resulting from the withdrawal from exploration permit EP82, Central has recognised a statutory net loss after tax of $1.7 million.
Highlights
- In comparison to the corresponding period ending December 2024:
- Sales revenue increased 17% to $22.1 million;
- Gross profit (margin) was 20% higher at $7.1 million;
- Underlying EBITDAX was 4% lower at $8.3 million, including $0.8 million of costs associated with the conditional sale of sub-salt exploration permits; and
- Underlying profit of $2.5 million was 17% higher.
- • Positive net cash balance increased from $3.9 million at 30 June 2025 to $5.3 million at 31 December 2025.
- • In addition to this strong financial performance, there were several key achievements during the half year, including:
- A new firm gas sales agreement was signed in October to supply 1.3 PJ of gas (net to Central) in 2026 and 2027, providing increased cash flow certainty for the next two years;
- In a strategic expansion into two of Australia’s proven onshore basins, Central acquired an interest in various Cooper Basin retention leases and exploration permits and in PEP 169 located in the onshore Otway Basin in Victoria, with at least three new exploration wells expected to be drilled in the next 18 months;
- A conditional agreement to sell the group’s interests in two Northern Territory subsalt exploration permits; and o A letter of intent for new multi-year gas sales agreements was entered into with the Northern Territory’s Power and Water Corporation for the supply of previously uncontracted firm gas production through to the end of 2034.
Source: Central Petroleum
