Central Petroleum lifts FY26 revenue to $44.7M

• Central Petroleum reported a 3% increase in FY26 sales revenue to $44.7 million, driven by higher gas prices despite lower sales volumes.
• The group's share price remained flat following the full-year release, supported by $15.6 million in positive net operating cash flow.
• The company is advancing its Palm Valley drilling campaign to boost production capacity and utilise existing infrastructure.

Central Petroleum (ASX:CTP) increased its 2026 financial year sales revenue by 3% to $44.7 million after higher realised prices offset declining production volumes.

The revenue expansion occurred despite natural gas sales falling 4% to 4,261 terajoules and oil volumes dropping 51% to 14,773 barrels.

"Our operating business strengthened through the year, and we enter FY27 with a clear path to stronger results through new Palm Valley production, lower costs, and our commercial strategy," said Central Petroleum Managing Director and CEO Leon Devaney.

The group posted a statutory net loss after tax of $4.9 million due to a $5.9 million impairment charge alongside $5.7 million in exploration costs.

Central Petroleum stated that new gas contracts running from 2026 to 2034 will provide cash flow certainty, while the Central Petroleum share price was unchanged at $0.064.

To fund expanded operations, the company increased its loan facility by $15 million while investing $11.2 million into new exploration acreage across the Cooper and onshore Otway basins.

The company also exited two Amadeus Basin permits during the period to lower holding costs and completed an on-market share buy-back.