Central Petroleum said Palm Valley 14 had been drilled and completed and was due to be commissioned later in October. The company said an initial flow test indicated possible production rates of 3–4 TJ/d, while stressing that significant uncertainty remained until the well was tied in and producing.
The company said Palm Valley 15 was expected to spud within days, targeting first gas in late December. Central said a strong result from the southern-flank well would support its target for aggregate Palm Valley production of about 14 TJ/d on a 100% joint-venture basis.
For 2027, Central outlined proposed exploration wells in the Otway and Cooper basins. It said Enterprise North in the Otway Basin is planned for mid-2027, while two Cooper Basin wells are also planned; these activities remain subject to joint-venture approval.
Source: Download CTP official ASX announcement, 2026-10-15.
Gas flare at Palm Valley 14, from Central Petroleum’s October 2026 investor update.