Central Petroleum expands portfolio with multi-basin acquisition

Central Petroleum entered into agreements with ADZ Energy to expand into the onshore Otway Basin PEP169 and the Cooper Basin retention leases and PEL677 permit in southern Australia. The deals give Central a 20% interest in the Enterprise North prospect in PEP169, with an exploration well planned for mid-late 2026; and a 49% interest across 24 Cooper Basin leases, with two to three exploration wells targeted in late 2026 to early 2027.

Central managing director Leon Devaney said the acquisition shifts the company toward a multi-basin explorer with near-term drilling opportunities and significant growth potential.