Central Petroleum Limited (Central) has signed a gas supply agreement (GSA) with Arafura Nolans Project Pty Ltd. (Arafura) for up to 6.85 Petajoules ("PJ") of gas (net to Central) to be supplied to Arafura for up to 5 years from 2026. This includes a 2-year extension period which is subject to sufficient uncontracted reserves being available. The GSA is conditional on various conditions precedent being satisfied by Arafura by 30 June 2024.

Central's gas will be aggregated with existing Mereenie gas supply owned by Macquarie Mereenie Pty Ltd. (MM), NZOG Mereenie Pty Ltd. (NZOG) and Cue Mereenie Pty Ltd. (Cue) (collectively the Mereenie JV), to supply a total of up to 27.4 PJ to Arafura over five years from 2026 (Central share: 6.85 PJ). The GSA is for firm gas supply, with take-or-pay provisions and a fixed price that escalates with the consumer price index. Pricing reflects strong market conditions.

New Gas Supply Agreement: Central announced that it has signed a GSA with Arafura for the supply of up to 6.85 PJ of gas over five years from 2026. The GSA is for firm gas supply ex-field, with take-or-pay provisions and a fixed price that escalates with the consumer price index. Gas supplied under the GSA will be aggregated with existing Mereenie gas supply from MM, NZOG and Cue to deliver up to 27.4 PJ of gas to Arafura from 2026.

Consistent with Central's broader marketing activities, the ex-field pricing under the GSA reflects strong market conditions.