Central Petroleum Secures Cooper and Otway Basin Deal Ahead of Completion

Transaction Reaches Unconditional Status

Central Petroleum Limited (ASX – CTP) has officially announced that its transaction with ADZ Energy involving assets in the Cooper and Otway Basins has become unconditional. This milestone follows the satisfaction of all conditions precedent, clearing the way for the deal to formally complete on 23 January 2026. The announcement confirms a key step in Central Petroleum’s strategic expansion beyond its established Northern Territory operations.

Strategic Growth in Key Australian Basins

The Cooper and Otway Basins are significant hydrocarbon provinces in Australia, and Central Petroleum’s entry into these regions signals a deliberate move to broaden its footprint in the domestic energy market. While the company has historically focused on onshore gas production in the Northern Territory, this acquisition positions it to tap into new reserves and potentially diversify its resource base, including conventional gas, helium, and naturally occurring hydrogen.

Implications for Central Petroleum’s Market Position

By expanding into the Cooper and Otway Basins, Central Petroleum aims to strengthen its role as a major domestic energy supplier. The company’s existing portfolio covers a vast area in the Northern Territory, including some of Australia’s largest known onshore conventional gas prospects. This transaction complements those assets and could enhance Central’s ability to meet growing energy demand on the east coast of Australia.

Details and Forward Outlook

The announcement did not disclose financial terms or specific operational impacts of the transaction, leaving some questions about the immediate effects on production and reserves. However, the unconditional status and imminent completion suggest confidence in the deal’s strategic value. Investors and market watchers will be keen to see how Central Petroleum integrates these new assets and what exploration or development plans emerge in the coming months.

Managing Director and CEO Leon Devaney authorised the release, underscoring the company’s commitment to transparency and growth. As Central Petroleum moves forward, the broader energy market will be watching how this expansion influences its competitive positioning and contribution to Australia’s energy landscape.